Source Production & Equipment Co
Source Production & Equipment Co is located in Saint Rose, LA, and the SBA lists its industry as Irradiation Apparatus Manufacturing. It was approved for an SBA 7(a) loan of $5,000,000 for a change of ownership on March 26, 2024.
SBA 7(a) loan, change of ownership, approved Mar 26, 2024
- Gross approval
- $5,000,000
- SBA-guaranteed amount
- $3,750,000 (75% of the approval)
- Lender
- First Internet Bank of Indiana, Fishers, IN
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 11.25%, variable
- Term
- 12 years, 7 months (151 months)
- Estimated maturity
- October 26, 2036 (estimated, approval date plus term)
- Estimated monthly payment
- $62,035 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Apr 30, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 24
- Business type
- Corporation
- NAICS
- 334517, Irradiation Apparatus Manufacturing
- Project location
- Saint Charles County, LA
- SBA district office
- Louisiana District Office
- Congressional district
- LA-02
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Irradiation Apparatus Manufacturing: $5,000,000.
- Average acquisition loan in Louisiana: $1,702,056.
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.