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SBA 7(a)Active, details exempt

GowanGroup LLC

SPARTANBURG, SCLincoln Savings BankLimited-Service Restaurants · NAICS 722513
APPROVAL AMOUNT
$948,000
PROGRAM
SBA 7(a)
11 years term
APPROVED
2023-07-20
11% rate
JOBS SUPPORTED
9
Borrower-reported

Estimated monthly payment

MONTHLY
$12,718
AT RATE
11%
recorded at approval
TOTAL INTEREST
$654,475
over 10.5 yrs
TOTAL REPAID
$1,602,475

Computed from this loan's recorded initial rate and term. Most 7(a) rates are variable and reset with the base rate, so the real schedule drifts from this, and SBA guaranty fees and closing costs are not included. Adjust the assumptions.

Loan details & location

LOCATION
SPARTANBURG, SC 29301
INDUSTRY
Limited-Service Restaurants · NAICS 722513
BUSINESS STRUCTURE
Corporation
LOAN TERM
11 years
INITIAL INTEREST RATE
11%
LOAN STATUS
Active, details exempt
CONGRESSIONAL DIST.
04
SPARTANBURG, SC 29301

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