US Lumber Supply I Incorporated
US Lumber Supply I Incorporated is a lumber, plywood, millwork, and wood panel merchant wholesaler located in Lynbrook, New York. The company was financed with an SBA 7(a) loan for a change of ownership of $2.5 million, approved by TowneBank on June 21, 2024.
SBA 7(a) loan, change of ownership, approved Jun 21, 2024
$2,507,000 approvedLender: TowneBank10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $2,507,000
- SBA-guaranteed amount
- $1,880,250 (75% of the approval)
- Lender
- TowneBank, Portsmouth, VA
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10.75%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- June 21, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $34,180 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jun 26, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 15
- Business type
- Corporation
- NAICS
- 423310, Lumber, Plywood, Millwork, and Wood Panel Merchant Wholesalers
- Project location
- Nassau County, NY
- SBA district office
- New York District Office
- Congressional district
- NY-04
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 56% of acquisition loans in Lumber, Plywood, Millwork, and Wood Panel Merchant Wholesalers on this site.
- Average acquisition loan in Lumber, Plywood, Millwork, and Wood Panel Merchant Wholesalers: $2,071,088.
- Average acquisition loan in New York: $1,771,512.
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 New York
- 630 Ash LLC, Yonkers