Summit Strategic Partners LLC
Summit Strategic Partners LLC, located in West Des Moines, Iowa, operates in the All Other Specialty Trade Contractors industry. The company was financed with an SBA 7(a) loan for a change of ownership totaling $1,053,000, approved on February 23, 2024, through Union Bank and Trust Company.
SBA 7(a) loan, change of ownership, approved Feb 23, 2024
$1,053,000 approvedLender: Union Bank and Trust Company7 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $1,053,000
- SBA-guaranteed amount
- $789,750 (75% of the approval)
- Lender
- Union Bank and Trust Company, Lincoln, NE
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 8.5%, variable
- Term
- 7 years (84 months)
- Estimated maturity
- February 23, 2031 (estimated, approval date plus term)
- Estimated monthly payment
- $16,676 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Mar 4, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 16
- Business type
- Corporation
- NAICS
- 238990, All Other Specialty Trade Contractors
- Project location
- Dallas County, IA
- SBA district office
- Des Moines District Office
- Congressional district
- IA-03
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 36% of acquisition loans in All Other Specialty Trade Contractors on this site.
- Average acquisition loan in All Other Specialty Trade Contractors: $1,899,024.
- Average acquisition loan in Iowa: $1,701,244.
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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