Kingsport Office Supply Company, Inc.
Kingsport Office Supply Company, Inc. is an electronic and precision equipment repair and maintenance business located in Kingsport, Tennessee. It was financed with an SBA 7(a) loan for a change of ownership of $2.35 million, approved by T Bank, National Association on November 12, 2024.
SBA 7(a) loan, change of ownership, approved Nov 12, 2024
$2,354,000 approvedLender: T Bank, National Association10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $2,354,000
- SBA-guaranteed amount
- $1,765,500 (75% of the approval)
- Lender
- T Bank, National Association, Dallas, TX
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10.5%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- November 12, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $31,764 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Dec 2, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 12
- Business type
- Corporation
- NAICS
- 811210, Electronic and Precision Equipment Repair and Maintenance
- Project location
- Sullivan County, TN
- SBA district office
- Tennessee District Office
- Congressional district
- TN-01
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 54% of acquisition loans in Electronic and Precision Equipment Repair and Maintenance on this site.
- Average acquisition loan in Electronic and Precision Equipment Repair and Maintenance: $2,128,331.
- Average acquisition loan in Tennessee: $1,738,925.
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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