Mccarthy Shiner Investments, LLC
Mccarthy Shiner Investments, LLC is located in Covington, Louisiana, and operates in the All Other Professional, Scientific, and Technical Services industry. The company was financed with an SBA 7(a) loan for a change of ownership totaling $909,000, approved by Fidelity Bank on August 28, 2024. The loan is associated with a franchise, Express Employment Professional, and reports 11 jobs.
SBA 7(a) loan, change of ownership, approved Aug 28, 2024
$909,000 approvedLender: Fidelity Bank10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $909,000
- SBA-guaranteed amount
- $681,750 (75% of the approval)
- Lender
- Fidelity Bank, Mandeville, LA
- Processing method
- Standard 7(a): the lender submits the application for SBA review
- Initial interest rate
- 10.5%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- August 28, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $12,266 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Oct 16, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 11
- Business type
- Corporation
- NAICS
- 541990, All Other Professional, Scientific, and Technical Services
- Franchise
- Express Employment Professional
- Project location
- Saint Tammany County, LA
- SBA district office
- Louisiana District Office
- Congressional district
- LA-01
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 30% of acquisition loans in All Other Professional, Scientific, and Technical Services on this site.
- Average acquisition loan in All Other Professional, Scientific, and Technical Services: $1,682,572.
- Average acquisition loan in Louisiana: $1,702,056.
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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