Party America
Party America is a gift, novelty, and souvenir retailer located in Parker, Colorado. The business was financed with an SBA 7(a) loan for a change of ownership totaling $1,515,600, approved on August 7, 2024 by Wings Credit Union.
SBA 7(a) loan, change of ownership, approved Aug 7, 2024
$1,515,600 approvedLender: Wings Credit Union10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $1,515,600
- SBA-guaranteed amount
- $1,136,700 (75% of the approval)
- Lender
- Wings Credit Union, Colorado Springs, CO
- Processing method
- Standard 7(a): the lender submits the application for SBA review
- Initial interest rate
- 10%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- August 7, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $20,029 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Sep 16, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 20
- Business type
- Corporation
- NAICS
- 459420, Gift, Novelty, and Souvenir Retailers
- Project location
- Douglas County, CO
- SBA district office
- Colorado District Office
- Congressional district
- CO-04
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 73% of acquisition loans in Gift, Novelty, and Souvenir Retailers on this site.
- Average acquisition loan in Gift, Novelty, and Souvenir Retailers: $1,214,814.
- Average acquisition loan in Colorado: $1,608,658.
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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