Renu Surface Restoration, Inc.
Renu Surface Restoration, Inc. is a carpet and upholstery cleaning services business located in Pittsford, NY. The company was financed with an SBA 7(a) loan for a change of ownership, totaling $980,000 and approved through New York Business Development Corporation on October 21, 2023.
SBA 7(a) loan, change of ownership, approved Oct 21, 2023
$980,000 approvedLender: New York Business Development Corporation10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $980,000
- SBA-guaranteed amount
- $735,000 (75% of the approval)
- Lender
- New York Business Development Corporation, Latham, NY
- Processing method
- Standard 7(a): the lender submits the application for SBA review
- Initial interest rate
- 13.5%, fixed
- Term
- 10 years (120 months)
- Estimated maturity
- October 21, 2033 (estimated, approval date plus term)
- Estimated monthly payment
- $14,923 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Nov 6, 2023
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 3
- Business type
- Corporation
- NAICS
- 561740, Carpet and Upholstery Cleaning Services
- Project location
- Monroe County, NY
- SBA district office
- Buffalo District Office
- Congressional district
- NY-25
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 33% of acquisition loans in Carpet and Upholstery Cleaning Services on this site.
- Average acquisition loan in Carpet and Upholstery Cleaning Services: $1,284,287.
- Average acquisition loan in New York: $1,771,512.
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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