Ken's Food Distribution LLC
Ken's Food Distribution LLC is a business in Houston, Texas, in the General Line Grocery Merchant Wholesalers industry. It was financed with an SBA 7(a) loan for a change of ownership of $2.65 million, approved on November 6, 2024, through Fifth Third Bank.
SBA 7(a) loan, change of ownership, approved Nov 6, 2024
$2,649,000 approvedLender: Fifth Third Bank10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $2,649,000
- SBA-guaranteed amount
- $1,986,750 (75% of the approval)
- Lender
- Fifth Third Bank, Cincinnati, OH
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 8%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- November 6, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $32,140 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jan 9, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 2
- Business type
- Corporation
- NAICS
- 424410, General Line Grocery Merchant Wholesalers
- Project location
- Harris County, TX
- SBA district office
- Houston District Office
- Congressional district
- TX-02
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 64% of acquisition loans in General Line Grocery Merchant Wholesalers on this site.
- Average acquisition loan in General Line Grocery Merchant Wholesalers: $2,118,293.
- Average acquisition loan in Texas: $1,944,682.
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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