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Monroe Product Group LLC

Opa Locka, FL · Electrical Apparatus and Equipment, Wiring Supplies, and Related Equipment Merchant Wholesalers · NAICS 423610

Monroe Product Group LLC, located in Opa Locka, Florida, operates in electrical apparatus and equipment, wiring supplies, and related equipment merchant wholesaling. The company was financed with an SBA 7(a) loan for a change of ownership in the amount of $828,000, through Bank Five Nine, with approval dated February 29, 2024.

SBA 7(a) loan, change of ownership, approved Feb 29, 2024

$828,000 approvedLender: Bank Five Nine10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$828,000
SBA-guaranteed amount
$621,000 (75% of the approval)
Lender
Bank Five Nine, Oconomowoc, WI
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
9.75%, variable
Term
10 years (120 months)
Estimated maturity
February 28, 2034 (estimated, approval date plus term)
Estimated monthly payment
$10,828 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Mar 15, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
2
Business type
Corporation
NAICS
423610, Electrical Apparatus and Equipment, Wiring Supplies, and Related Equipment Merchant Wholesalers
Project location
Miami-Dade County, FL
SBA district office
South Florida District Office
Congressional district
FL-24
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 15% of acquisition loans in Electrical Apparatus and Equipment, Wiring Supplies, and Related Equipment Merchant Wholesalers on this site.
  • Average acquisition loan in Electrical Apparatus and Equipment, Wiring Supplies, and Related Equipment Merchant Wholesalers: $1,962,200.
  • 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