Tps of Mi LLC
Tps of Mi LLC, located in Beaverton, Michigan, operates in the industrial supplies merchant wholesalers industry (NAICS 423840). The company was financed with an SBA 7(a) loan for a change of ownership in the amount of $1,577,600, approved by The Huntington National Bank on October 31, 2023.
SBA 7(a) loan, change of ownership, approved Oct 31, 2023
$1,577,600 approvedLender: The Huntington National Bank12 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $1,577,600
- SBA-guaranteed amount
- $1,183,200 (75% of the approval)
- Lender
- The Huntington National Bank, Columbus, OH
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 11%, variable
- Term
- 12 years (144 months)
- Estimated maturity
- October 31, 2035 (estimated, approval date plus term)
- Estimated monthly payment
- $19,776 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Nov 7, 2023
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 5
- Business type
- Corporation
- NAICS
- 423840, Industrial Supplies Merchant Wholesalers
- Project location
- Gladwin County, MI
- SBA district office
- Michigan District Office
- Congressional district
- MI-04
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 45% of acquisition loans in Industrial Supplies Merchant Wholesalers on this site.
- Average acquisition loan in Industrial Supplies Merchant Wholesalers: $1,953,526.
- 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.
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Same industry in Michigan
- Strong Sales Incorporated, Muskegon
- Hand Sales LLC, Sterling Heights