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Merritt Glass Company

Pensacola, FL · All Other Specialty Trade Contractors · NAICS 238990

Merritt Glass Company, located in Pensacola, FL, operates in the All Other Specialty Trade Contractors industry (NAICS 238990). The company was financed with two SBA 7(a) loans for a change of ownership, totaling $2.925 million, approved by Live Oak Banking Company on December 21, 2023, and reported 23 jobs.

SBA 7(a) loan, change of ownership, approved Dec 21, 2023

$2,425,000 approvedLender: Live Oak Banking Company25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$2,425,000
SBA-guaranteed amount
$1,818,750 (75% of the approval)
Lender
Live Oak Banking Company, Wilmington, NC
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
9.85%, variable
Term
25 years (300 months)
Estimated maturity
December 21, 2048 (estimated, approval date plus term)
Estimated monthly payment
$21,780 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Jan 16, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
23
Business type
Corporation
NAICS
238990, All Other Specialty Trade Contractors
Project location
Escambia County, FL
SBA district office
North Florida District Office
Congressional district
FL-01
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 73% of acquisition loans in All Other Specialty Trade Contractors on this site.
  • Average acquisition loan in All Other Specialty Trade Contractors: $1,899,024.
  • Average acquisition loan in Florida: $1,808,559.

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.

SBA 7(a) loan, change of ownership, approved Dec 21, 2023

$500,000 approvedLender: Live Oak Banking Company10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$500,000
SBA-guaranteed amount
$250,000 (50% of the approval)
Lender
Live Oak Banking Company, Wilmington, NC
Processing method
SBA Express: streamlined process using the lender's own procedures, with a smaller SBA guarantee
Initial interest rate
10.75%, variable
Term
10 years (120 months)
Estimated maturity
December 21, 2033 (estimated, approval date plus term)
Estimated monthly payment
$6,817 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Jan 16, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
23
Business type
Corporation
NAICS
238990, All Other Specialty Trade Contractors
Project location
Escambia County, FL
SBA district office
North Florida District Office
Congressional district
FL-01
Collateral
Yes
Guaranteed portion sold on secondary market
Not reported as sold
Revolving line of credit
Yes
  • Average acquisition loan in All Other Specialty Trade Contractors: $1,899,024.
  • Average acquisition loan in Florida: $1,808,559.

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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Same industry in Florida