Kate's Magik
Kate's Magik is located in Tucson, AZ, and the SBA lists its industry as All Other Miscellaneous Manufacturing. It was approved for an SBA 7(a) loan of $1,348,500 for a change of ownership on April 8, 2025.
SBA 7(a) loan, change of ownership, approved Apr 8, 2025
- Gross approval
- $1,348,500
- SBA-guaranteed amount
- $1,011,375 (75% of the approval)
- Lender
- Busey Bank, Champaign, IL
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 9.75%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- April 8, 2035 (estimated, approval date plus term)
- Estimated monthly payment
- $17,634 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Apr 17, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 9
- Business type
- Corporation
- NAICS
- 339999, All Other Miscellaneous Manufacturing
- Project location
- Pima County, AZ
- SBA district office
- Arizona District Office
- Congressional district
- AZ-03
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 43% of acquisition loans in All Other Miscellaneous Manufacturing on this site.
- Average acquisition loan in All Other Miscellaneous Manufacturing: $1,844,417.
- Average acquisition loan in Arizona: $1,690,811.
Loan amounts are the SBA approval, not a purchase price. Figures labeled estimated are derived on this site and are not published by the SBA.
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Same industry in Arizona
- Triton Nutra Group LLC, Chandler