Richmond Advantage, LLC
Richmond Advantage, LLC, located in Schertz, TX, is classified in the industry of service establishment equipment and supplies merchant wholesalers (NAICS 423850). The company was financed with an SBA 7(a) loan for a change of ownership totaling $3,645,000, approved on May 15, 2024, through Fifth Third Bank, with a 120-month term and 14 jobs reported.
SBA 7(a) loan, change of ownership, approved May 15, 2024
$3,645,000 approvedLender: Fifth Third Bank10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $3,645,000
- SBA-guaranteed amount
- $2,733,750 (75% of the approval)
- Lender
- Fifth Third Bank, Cincinnati, OH
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 8%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- May 15, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $44,224 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jun 14, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 14
- Business type
- Corporation
- NAICS
- 423850, Service Establishment Equipment and Supplies Merchant Wholesalers
- Project location
- Guadalupe County, TX
- SBA district office
- San Antonio District Office
- Congressional district
- TX-15
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 92% of acquisition loans in Service Establishment Equipment and Supplies Merchant Wholesalers on this site.
- Average acquisition loan in Service Establishment Equipment and Supplies Merchant Wholesalers: $1,564,583.
- 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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