Main Street Registry

PEG Power Equipment Group, Inc.

Houston, TX · All Other Professional, Scientific, and Technical Services · NAICS 541990

PEG Power Equipment Group, Inc. is a business located in Houston, Texas, in the industry classified as All Other Professional, Scientific, and Technical Services (NAICS 541990). The company was financed with an SBA 7(a) loan for a change of ownership of $1.884 million, approved on June 10, 2024, by Prosperity Bank.

SBA 7(a) loan, change of ownership, approved Jun 10, 2024

$1,884,000 approvedLender: Prosperity Bank10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$1,884,000
SBA-guaranteed amount
$1,413,000 (75% of the approval)
Lender
Prosperity Bank, El Campo, TX
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
9%, variable
Term
10 years (120 months)
Estimated maturity
June 10, 2034 (estimated, approval date plus term)
Estimated monthly payment
$23,866 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Jul 16, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
2
Business type
Corporation
NAICS
541990, All Other Professional, Scientific, and Technical Services
Project location
Harris County, TX
SBA district office
Houston District Office
Congressional district
TX-14
Collateral
Yes
Guaranteed portion sold on secondary market
Not reported as sold
Revolving line of credit
No (term loan)
  • Larger than 65% of acquisition loans in All Other Professional, Scientific, and Technical Services on this site.
  • Average acquisition loan in All Other Professional, Scientific, and Technical Services: $1,682,572.
  • Average acquisition loan in Texas: $1,944,682.

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 Texas