Savvy Cie, Inc.
Savvy Cie, Inc. is located in Dania, FL, and the SBA lists its industry as Jewelry, Watch, Precious Stone, and Precious Metal Merchant Wholesalers. It was approved for an SBA 7(a) loan of $4,095,000 for a change of ownership on November 19, 2024.
SBA 7(a) loan, change of ownership, approved Nov 19, 2024
- Gross approval
- $4,095,000
- SBA-guaranteed amount
- $3,685,500 (90% of the approval)
- Lender
- First Merchants Bank, Indianapolis, IN
- Processing method
- International Trade Loan: for businesses that export or are preparing to
- Initial interest rate
- 10.25%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- November 19, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $54,684 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Dec 23, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 7
- Business type
- Corporation
- NAICS
- 423940, Jewelry, Watch, Precious Stone, and Precious Metal Merchant Wholesalers
- Project location
- Broward County, FL
- SBA district office
- South Florida District Office
- Congressional district
- FL-23
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Jewelry, Watch, Precious Stone, and Precious Metal Merchant Wholesalers: $3,055,017.
- Average acquisition loan in Florida: $1,808,559.
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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