Water View Investments LLC
Water View Investments LLC, located in Portage, MI, is classified under the industry Plumbing and Heating Equipment and Supplies (Hydronics) Merchant Wholesalers (NAICS 423720). The company was financed with an SBA 7(a) loan for a change of ownership in the amount of $952,000, approved on March 21, 2024, by lender TowneBank.
SBA 7(a) loan, change of ownership, approved Mar 21, 2024
$952,000 approvedLender: TowneBank10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $952,000
- SBA-guaranteed amount
- $714,000 (75% of the approval)
- Lender
- TowneBank, Portsmouth, VA
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10.5%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- March 21, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $12,846 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Apr 3, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 3
- Business type
- Corporation
- NAICS
- 423720, Plumbing and Heating Equipment and Supplies (Hydronics) Merchant Wholesalers
- Project location
- Kalamazoo County, MI
- SBA district office
- Michigan District Office
- Congressional district
- MI-06
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Plumbing and Heating Equipment and Supplies (Hydronics) Merchant Wholesalers: $2,498,400.
- 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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