Simple Man Industries LLC.
Simple Man Industries LLC is a general automotive repair business located in Campton, New Hampshire. The company was financed with an SBA 7(a) loan for a change of ownership, in the amount of $1,825,000, approved on July 24, 2024 by Colony Bank.
SBA 7(a) loan, change of ownership, approved Jul 24, 2024
$1,825,000 approvedLender: Colony Bank25 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $1,825,000
- SBA-guaranteed amount
- $1,368,750 (75% of the approval)
- Lender
- Colony Bank, Fitzgerald, GA
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 11%, variable
- Term
- 25 years (300 months)
- Estimated maturity
- July 24, 2049 (estimated, approval date plus term)
- Estimated monthly payment
- $17,887 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Aug 30, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 7
- Business type
- Corporation
- NAICS
- 811111, General Automotive Repair
- Project location
- Grafton County, NH
- SBA district office
- New Hampshire District Office
- Congressional district
- NH-01
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 80% of acquisition loans in General Automotive Repair on this site.
- Average acquisition loan in General Automotive Repair: $1,353,136.
- Average acquisition loan in New Hampshire: $1,811,437.
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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