MDWB Commercial 2 LLC
MDWB Commercial 2 LLC, located in Cloverdale, Indiana, operates in the Other Building Material Dealers industry (NAICS 444190). The business was financed with an SBA 7(a) loan for a change of ownership, in the amount of $1,671,500, approved by The Huntington National Bank on February 29, 2024.
SBA 7(a) loan, change of ownership, approved Feb 29, 2024
$1,671,500 approvedLender: The Huntington National Bank17 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $1,671,500
- SBA-guaranteed amount
- $1,253,625 (75% of the approval)
- Lender
- The Huntington National Bank, Columbus, OH
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 8.99%, fixed
- Term
- 17 years (204 months)
- Estimated maturity
- February 28, 2041 (estimated, approval date plus term)
- Estimated monthly payment
- $16,016 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Mar 1, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 2
- Business type
- Corporation
- NAICS
- 444190, Other Building Material Dealers
- Project location
- Putnam County, IN
- SBA district office
- Indiana District Office
- Congressional district
- IN-04
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 56% of acquisition loans in Other Building Material Dealers on this site.
- Average acquisition loan in Other Building Material Dealers: $1,898,107.
- Average acquisition loan in Indiana: $1,995,900.
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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