Kennco Holding Co. Inc.
Kennco Holding Co. Inc. is located in Kernersville, NC, and the SBA lists its industry as General Freight Trucking, Long-Distance, Truckload. It was approved for an SBA 7(a) loan of $2,163,000 for a change of ownership on August 7, 2024.
SBA 7(a) loan, change of ownership, approved Aug 7, 2024
- Gross approval
- $2,163,000
- SBA-guaranteed amount
- $1,622,250 (75% of the approval)
- Lender
- First Bank, Southern Pines, NC
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 11%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- August 7, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $29,795 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Sep 6, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 18
- Business type
- Corporation
- NAICS
- 484121, General Freight Trucking, Long-Distance, Truckload
- Project location
- Guilford County, NC
- SBA district office
- North Carolina District Office
- Congressional district
- NC-06
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 66% of acquisition loans in General Freight Trucking, Long-Distance, Truckload on this site.
- Average acquisition loan in General Freight Trucking, Long-Distance, Truckload: $1,974,886.
- Average acquisition loan in North Carolina: $1,952,444.
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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