Main Street Registry

Novaris Enterprises LLC

West Palm Beach, FL · New Single-Family Housing Construction (except For-Sale Builders) · NAICS 236115

Novaris Enterprises LLC is located in West Palm Beach, FL, and the SBA lists its industry as New Single-Family Housing Construction (except For-Sale Builders). It was approved for an SBA 7(a) loan of $925,000 for a change of ownership on December 17, 2024.

SBA 7(a) loan, change of ownership, approved Dec 17, 2024

Gross approval
$925,000
SBA-guaranteed amount
$693,750 (75% of the approval)
Lender
Readycap Lending, LLC, Berkeley Heights, NJ
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
10.75%, variable
Term
10 years (120 months)
Estimated maturity
December 17, 2034 (estimated, approval date plus term)
Estimated monthly payment
$12,611 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Jan 30, 2025
Loan status
Status not reported (SBA exemption)
Jobs supported
6
Business type
Corporation
NAICS
236115, New Single-Family Housing Construction (except For-Sale Builders)
Project location
Palm Beach County, FL
SBA district office
South Florida District Office
Congressional district
FL-20
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)

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