Spartan Glass & Mirror
Spartan Glass & Mirror is a Glass and Glazing Contractors business located in Mason, Michigan. The company was financed with an SBA 7(a) loan for a change of ownership of $670,500, made through Bank Michigan and approved on April 17, 2024.
SBA 7(a) loan, change of ownership, approved Apr 17, 2024
$670,500 approvedLender: Bank Michigan10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $670,500
- SBA-guaranteed amount
- $502,875 (75% of the approval)
- Lender
- Bank Michigan, Brooklyn, MI
- Processing method
- Standard 7(a): the lender submits the application for SBA review
- Initial interest rate
- 11%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- April 17, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $9,236 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Apr 29, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 8
- Business type
- Corporation
- NAICS
- 238150, Glass and Glazing Contractors
- Project location
- Ingham County, MI
- SBA district office
- Michigan District Office
- Congressional district
- MI-08
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 15% of acquisition loans in Glass and Glazing Contractors on this site.
- Average acquisition loan in Glass and Glazing Contractors: $2,029,425.
- Average acquisition loan in Michigan: $1,645,728.
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.
Same industry in Michigan
- Pure Energy Window Company, Brighton
- Glasco Corporation, Detroit