Seaward Marine Corporation
Seaward Marine Corporation, located in Norfolk, Virginia, operates in the other heavy and civil engineering construction industry (NAICS 237990). The company financed real estate or equipment through an SBA 504 loan of $1,392,000, approved on October 21, 2023, through Blue Ridge Bank National Association with 504 Capital Corporation as the certified development company, and the loan supported 16 jobs.
SBA 504 loan, approved Oct 21, 2023
$1,392,000 SBA portionCDC: 504 Capital Corporation25 years termPaid in fullLoan details
- SBA (CDC) portion
- $1,392,000
- Bank portion
- $1,700,000
- Estimated project size
- $3,435,556 (estimated)
- Estimated owner equity
- $343,556 (estimated, about 10% of the project)
- Bank lender
- Blue Ridge Bank National Association, Martinsville, VA
- Processing method
- Accredited Lenders Program: CDC with an expedited SBA review
- Term
- 25 years (300 months)
- Estimated maturity
- October 21, 2048 (estimated, approval date plus term)
- First disbursement
- Apr 17, 2024
- Loan status
- Paid in full
- Jobs supported
- 16
- Business type
- Corporation
- NAICS
- 237990, Other Heavy and Civil Engineering Construction
- Project location
- Norfolk City County, VA
- SBA district office
- Richmond District Office
- Congressional district
- VA-3
- Collateral
- Yes
Estimated share of project by source
Bank 49% SBA (CDC) 41% Owner 10%
- Larger than 64% of expansion loans in Other Heavy and Civil Engineering Construction on this site.
- Average expansion loan in Other Heavy and Civil Engineering Construction: $1,546,571.
- Average expansion loan in Virginia: $1,938,955.
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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Same industry in Virginia
- Xlt, L.L.C., Chesapeake