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SBA 7(a)Active, details exempt

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GRAND RAPIDS, MINewtek Small Business Finance, Inc.Electronic Shopping and Mail-Order Houses · NAICS 454110
APPROVAL AMOUNT
$1,796,000
PROGRAM
SBA 7(a)
7 years term
APPROVED
2021-09-07
6% rate
JOBS SUPPORTED
12
Borrower-reported

Estimated monthly payment

MONTHLY
$27,864
AT RATE
6%
recorded at approval
TOTAL INTEREST
$377,357
over 6.5 yrs
TOTAL REPAID
$2,173,357

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
GRAND RAPIDS, MI 49504
INDUSTRY
Electronic Shopping and Mail-Order Houses · NAICS 454110
BUSINESS STRUCTURE
Corporation
LOAN TERM
7 years
INITIAL INTEREST RATE
6%
LOAN STATUS
Active, details exempt
CONGRESSIONAL DIST.
02
GRAND RAPIDS, MI 49504

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