L & A Traders LLC
L & A Traders LLC is located in Belle Plaine, IA, and the SBA lists its industry as Supermarkets and Other Grocery Retailers (except Convenience Retailers). It was approved for an SBA 7(a) loan of $725,000 for a change of ownership on August 6, 2024.
SBA 7(a) loan, change of ownership, approved Aug 6, 2024
- Gross approval
- $725,000
- SBA-guaranteed amount
- $543,750 (75% of the approval)
- Lender
- Byline Bank, Chicago, IL
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 11.25%, variable
- Term
- 25 years (300 months)
- Estimated maturity
- August 6, 2049 (estimated, approval date plus term)
- Estimated monthly payment
- $7,237 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Dec 18, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 4
- Business type
- Corporation
- NAICS
- 445110, Supermarkets and Other Grocery Retailers (except Convenience Retailers)
- Project location
- Benton County, IA
- SBA district office
- Des Moines District Office
- Congressional district
- IA-01
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 15% of acquisition loans in Supermarkets and Other Grocery Retailers (except Convenience Retailers) on this site.
- Average acquisition loan in Supermarkets and Other Grocery Retailers (except Convenience Retailers): $1,791,981.
- Average acquisition loan in Iowa: $1,701,244.
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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