Midwest Hardware Sales, LLC
Midwest Hardware Sales, LLC is located in Warren, MI, and the SBA lists its industry as Hardware Merchant Wholesalers. It was approved for an SBA 7(a) loan of $2,235,000 for a change of ownership on October 15, 2024.
SBA 7(a) loan, change of ownership, approved Oct 15, 2024
- Gross approval
- $2,235,000
- SBA-guaranteed amount
- $1,676,250 (75% of the approval)
- Lender
- Fifth Third Bank, Cincinnati, OH
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 7.5%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- October 15, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $26,530 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Dec 2, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 10
- Business type
- Corporation
- NAICS
- 423710, Hardware Merchant Wholesalers
- Project location
- Macomb County, MI
- SBA district office
- Michigan District Office
- Congressional district
- MI-09
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 36% of acquisition loans in Hardware Merchant Wholesalers on this site.
- Average acquisition loan in Hardware Merchant Wholesalers: $2,843,818.
- Average acquisition loan in Michigan: $1,645,728.
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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