Sellers Masonry, Inc.
Sellers Masonry, Inc. is a masonry contractor based in Newman Lake, Washington, in the masonry contractors industry (NAICS 238140). The company was financed with an SBA 7(a) loan for a change of ownership, in the amount of $500,000, approved by Numerica CU on February 9, 2024.
SBA 7(a) loan, change of ownership, approved Feb 9, 2024
$500,000 approvedLender: Numerica CU10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $500,000
- SBA-guaranteed amount
- $375,000 (75% of the approval)
- Lender
- Numerica CU, Spokane Valley, WA
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 7.25%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- February 9, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $5,870 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Feb 26, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 11
- Business type
- Corporation
- NAICS
- 238140, Masonry Contractors
- Project location
- Spokane County, WA
- SBA district office
- Seattle District Office
- Congressional district
- WA-01
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Masonry Contractors: $1,856,218.
- Average acquisition loan in Washington: $1,784,595.
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.
Is this your company? Claim or correct this listing. See Corrections.