Land Design by Armstrong
Land Design by Armstrong, located in Holladay, UT, operates in landscape architectural services (NAICS 541320). The company was financed with an SBA 7(a) loan for a change of ownership totaling $2,231,000, approved on February 17, 2024 by Beacon Bank and Trust.
SBA 7(a) loan, change of ownership, approved Feb 17, 2024
$2,231,000 approvedLender: Beacon Bank and Trust103 months termStatus not reported (SBA exemption)Loan details
- Gross approval
- $2,231,000
- SBA-guaranteed amount
- $1,673,250 (75% of the approval)
- Lender
- Beacon Bank and Trust, Brookline, MA
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10.75%, variable
- Term
- 8 years, 7 months (103 months)
- Estimated maturity
- September 17, 2032 (estimated, approval date plus term)
- Estimated monthly payment
- $33,259 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Mar 5, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 28
- Business type
- Corporation
- NAICS
- 541320, Landscape Architectural Services
- Project location
- Salt Lake County, UT
- SBA district office
- Utah District Office
- Congressional district
- UT-03
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 53% of acquisition loans in Landscape Architectural Services on this site.
- Average acquisition loan in Landscape Architectural Services: $2,243,276.
- Average acquisition loan in Utah: $1,761,092.
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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