Old Water Holdings, LLC
Old Water Holdings, LLC is a business in Wedowee, Alabama, in the plastics material and resin manufacturing industry. It was financed with an SBA 7(a) loan for a change of ownership of $1.66 million, approved on October 17, 2024, through FDIC - Community Bank & Trust-West Georgia.
SBA 7(a) loan, change of ownership, approved Oct 17, 2024
$1,659,500 approvedLender: FDIC - Community Bank & Trust-West Georgia25 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $1,659,500
- SBA-guaranteed amount
- $1,244,625 (75% of the approval)
- Lender
- FDIC - Community Bank & Trust-West Georgia, LaGrange, GA
- Processing method
- Standard 7(a): the lender submits the application for SBA review
- Initial interest rate
- 11%, variable
- Term
- 25 years (300 months)
- Estimated maturity
- October 17, 2049 (estimated, approval date plus term)
- Estimated monthly payment
- $16,265 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Oct 31, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 28
- Business type
- Corporation
- NAICS
- 325211, Plastics Material and Resin Manufacturing
- Project location
- Randolph County, AL
- SBA district office
- Alabama District Office
- Congressional district
- AL-03
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Plastics Material and Resin Manufacturing: $1,783,625.
- Average acquisition loan in Alabama: $1,764,717.
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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