Mettler Footwear Inc
Mettler Footwear Inc is a shoe retailer located in Hudson, Ohio. The business was financed with an SBA 7(a) loan for a change of ownership of $900,000, approved on February 1, 2024, by Fifth Third Bank.
SBA 7(a) loan, change of ownership, approved Feb 1, 2024
$900,000 approvedLender: Fifth Third Bank10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $900,000
- SBA-guaranteed amount
- $675,000 (75% of the approval)
- Lender
- Fifth Third Bank, Cincinnati, OH
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 8.66%, fixed
- Term
- 10 years (120 months)
- Estimated maturity
- February 1, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $11,236 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
- 10
- Business type
- Corporation
- NAICS
- 458210, Shoe Retailers
- Project location
- Summit County, OH
- SBA district office
- Columbus District Office
- Congressional district
- OH-13
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 50% of acquisition loans in Shoe Retailers on this site.
- Average acquisition loan in Shoe Retailers: $1,132,514.
- Average acquisition loan in Ohio: $1,840,340.
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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