Weston Smith and Sons LLC
Weston Smith and Sons LLC, located in Leesville, Louisiana, operates in the sporting and recreational goods and supplies merchant wholesalers industry. The company was financed with an SBA 7(a) loan for a change of ownership totaling $616,500, approved on December 13, 2024 by American Momentum Bank.
SBA 7(a) loan, change of ownership, approved Dec 13, 2024
$616,500 approvedLender: American Momentum Bank10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $616,500
- SBA-guaranteed amount
- $462,375 (75% of the approval)
- Lender
- American Momentum Bank, College Station, TX
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10.5%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- December 13, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $8,319 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jan 31, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 2
- Business type
- Corporation
- NAICS
- 423910, Sporting and Recreational Goods and Supplies Merchant Wholesalers
- Project location
- Vernon County, LA
- SBA district office
- Louisiana District Office
- Congressional district
- LA-04
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 27% of acquisition loans in Sporting and Recreational Goods and Supplies Merchant Wholesalers on this site.
- Average acquisition loan in Sporting and Recreational Goods and Supplies Merchant Wholesalers: $1,420,040.
- Average acquisition loan in Louisiana: $1,702,056.
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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