Schlachta-Johnston Enterprises, LLC
Schlachta-Johnston Enterprises, LLC is a beauty salon business located in Loveland, Ohio, classified under NAICS code 812112. The business was financed with an SBA 7(a) loan for a change of ownership in the amount of $500,000, approved on October 28, 2023, by The Huntington National Bank.
SBA 7(a) loan, change of ownership, approved Oct 28, 2023
$500,000 approvedLender: The Huntington National Bank25 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $500,000
- SBA-guaranteed amount
- $375,000 (75% of the approval)
- Lender
- The Huntington National Bank, Columbus, OH
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 8.5%, fixed
- Term
- 25 years (300 months)
- Estimated maturity
- October 28, 2048 (estimated, approval date plus term)
- Estimated monthly payment
- $4,026 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
- 1
- Business type
- Corporation
- NAICS
- 812112, Beauty Salons
- Project location
- Clermont County, OH
- SBA district office
- Columbus District Office
- Congressional district
- OH-01
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Beauty Salons: $1,125,702.
- Average acquisition loan in Ohio: $1,840,340.
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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