Thomas P. Finucane & Associates, Inc.
Thomas P. Finucane & Associates, Inc., located in Cleveland, Ohio, operates in the payroll services industry (NAICS 541214). The company was financed with an SBA 7(a) loan for a change of ownership, in the amount of $1,570,000, approved on May 12, 2025 by First National Bank of Pennsylvania.
SBA 7(a) loan, change of ownership, approved May 12, 2025
$1,570,000 approvedLender: First National Bank of Pennsylvania10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $1,570,000
- SBA-guaranteed amount
- $1,177,500 (75% of the approval)
- Lender
- First National Bank of Pennsylvania, Greenville, PA
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 8.67%, fixed
- Term
- 10 years (120 months)
- Estimated maturity
- May 12, 2035 (estimated, approval date plus term)
- Estimated monthly payment
- $19,609 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jul 22, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 9
- Business type
- Corporation
- NAICS
- 541214, Payroll Services
- Project location
- Cuyahoga County, OH
- SBA district office
- Columbus District Office
- Congressional district
- OH-11
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Payroll Services: $2,044,320.
- Average acquisition loan in Ohio: $1,840,340.
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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