Powderhorn Acquisition Company, LLC
Powderhorn Acquisition Company, LLC is an insurance agency and brokerage located in Brookfield, CT. The company was financed with an SBA 7(a) loan for a change of ownership of $2.28 million from Live Oak Banking Company, approved on July 9, 2024. The loan carries a 120-month term and the SBA-reported job count is 14.
SBA 7(a) loan, change of ownership, approved Jul 9, 2024
$2,281,000 approvedLender: Live Oak Banking Company10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $2,281,000
- SBA-guaranteed amount
- $1,710,750 (75% of the approval)
- Lender
- Live Oak Banking Company, Wilmington, NC
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 9.54%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- July 9, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $29,566 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
- 14
- Business type
- Corporation
- NAICS
- 524210, Insurance Agencies and Brokerages
- Project location
- Western Ct County, CT
- SBA district office
- Connecticut District Office
- Congressional district
- CT-05
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 79% of acquisition loans in Insurance Agencies and Brokerages on this site.
- Average acquisition loan in Insurance Agencies and Brokerages: $1,528,335.
- Average acquisition loan in Connecticut: $1,992,959.
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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