Philomath Tile & Surfaces LLC
Philomath Tile & Surfaces LLC is a tile and terrazzo contracting business in Sun Prairie, Wisconsin, classified under NAICS 238340 (Tile and Terrazzo Contractors). The business was financed with two SBA 7(a) loans for a change of ownership, approved by Summit CU on February 18, 2026 ($500,000) and April 29, 2026 ($1,710,000). The loans report 21 and 22 jobs respectively.
SBA 7(a) loan, change of ownership, approved Apr 29, 2026
- Gross approval
- $1,710,000
- SBA-guaranteed amount
- $1,282,500 (75% of the approval)
- Lender
- Summit CU, Cottage Grove, WI
- Processing method
- Standard 7(a): the lender submits the application for SBA review
- Initial interest rate
- 6.5%, fixed
- Term
- 10 years (120 months)
- Estimated maturity
- April 29, 2036 (estimated, approval date plus term)
- Estimated monthly payment
- $19,417 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- May 19, 2026
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 22
- Business type
- Corporation
- NAICS
- 238340, Tile and Terrazzo Contractors
- Project location
- Dane County, WI
- SBA district office
- Wisconsin District Office
- Congressional district
- WI-02
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Tile and Terrazzo Contractors: $1,773,467.
- Average acquisition loan in Wisconsin: $1,729,230.
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.
SBA 7(a) loan, change of ownership, approved Feb 18, 2026
- Gross approval
- $500,000
- SBA-guaranteed amount
- $250,000 (50% of the approval)
- Lender
- Summit CU, Cottage Grove, WI
- Processing method
- SBA Express: streamlined process using the lender's own procedures, with a smaller SBA guarantee
- Initial interest rate
- 7.75%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- February 18, 2036 (estimated, approval date plus term)
- Estimated monthly payment
- $6,001 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jun 11, 2026
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 21
- Business type
- Corporation
- NAICS
- 238340, Tile and Terrazzo Contractors
- Project location
- Dane County, WI
- SBA district office
- Wisconsin District Office
- Congressional district
- WI-02
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- Yes
- Average acquisition loan in Tile and Terrazzo Contractors: $1,773,467.
- Average acquisition loan in Wisconsin: $1,729,230.
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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