R&S Raingutters
R&S Raingutters is a siding contractor located in Eagle, Idaho, according to its SBA record. The company was financed with an SBA 7(a) loan for a change of ownership, in the amount of $664,000, approved on December 17, 2024 by First Merchants Bank.
SBA 7(a) loan, change of ownership, approved Dec 17, 2024
$664,000 approvedLender: First Merchants Bank10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $664,000
- SBA-guaranteed amount
- $498,000 (75% of the approval)
- Lender
- First Merchants Bank, Indianapolis, IN
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- December 17, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $8,775 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Dec 30, 2024
- Loan status
- Status not reported (SBA exemption)
- Business type
- Corporation
- NAICS
- 238170, Siding Contractors
- Project location
- Canyon County, ID
- SBA district office
- Boise District Office
- Congressional district
- ID-01
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Siding Contractors: $1,236,989.
- Average acquisition loan in Idaho: $1,527,113.
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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