The Midwest's Best Produce Company
The Midwest's Best Produce Company is a fresh fruit and vegetable merchant wholesaler located in Saint Louis, Missouri. The business was financed with an SBA 7(a) loan for a change of ownership totaling $4,598,300, approved on June 26, 2024, through Old National Bank.
SBA 7(a) loan, change of ownership, approved Jun 26, 2024
$4,598,300 approvedLender: Old National Bank299 months termStatus not reported (SBA exemption)Loan details
- Gross approval
- $4,598,300
- SBA-guaranteed amount
- $3,448,725 (75% of the approval)
- Lender
- Old National Bank, Evansville, IN
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 7.25%, fixed
- Term
- 24 years, 11 months (299 months)
- Estimated maturity
- May 26, 2049 (estimated, approval date plus term)
- Estimated monthly payment
- $33,276 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jul 9, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 21
- Business type
- Corporation
- NAICS
- 424480, Fresh Fruit and Vegetable Merchant Wholesalers
- Project location
- Saint Louis City County, MO
- SBA district office
- St. Louis District Office
- Congressional district
- MO-01
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Fresh Fruit and Vegetable Merchant Wholesalers: $3,882,767.
- Average acquisition loan in Missouri: $1,584,414.
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.
Is this your company? Claim or correct this listing. See Corrections.