Tuxedos on Broadway, Inc
Tuxedos on Broadway, Inc is a clothing and clothing accessories retailer in Tucson, Arizona. The company was financed with an SBA 7(a) loan for a change of ownership, in the amount of $530,000, approved on March 21, 2024 by United Midwest Savings Bank National Association.
SBA 7(a) loan, change of ownership, approved Mar 21, 2024
$530,000 approvedLender: United Midwest Savings Bank National Association25 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $530,000
- SBA-guaranteed amount
- $397,500 (75% of the approval)
- Lender
- United Midwest Savings Bank National Association, De Graff, OH
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 11.25%, variable
- Term
- 25 years (300 months)
- Estimated maturity
- March 21, 2049 (estimated, approval date plus term)
- Estimated monthly payment
- $5,291 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jun 3, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 4
- Business type
- Corporation
- NAICS
- 458110, Clothing and Clothing Accessories Retailers
- Project location
- Pima County, AZ
- SBA district office
- Arizona District Office
- Congressional district
- AZ-02
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 8% of acquisition loans in Clothing and Clothing Accessories Retailers on this site.
- Average acquisition loan in Clothing and Clothing Accessories Retailers: $1,439,812.
- Average acquisition loan in Arizona: $1,690,811.
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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