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SBA 7(a)Paid in Full

INNOVATIVE CHEMICAL CORPORATION, INC.

COTTAGE GROVE, MNCorTrust Bank National AssociationSoap and Other Detergent Manufacturing · NAICS 325611
APPROVAL AMOUNT
$200,000
PROGRAM
SBA 7(a)
2 years term
APPROVED
2020-09-10
5% rate
JOBS SUPPORTED
7
Borrower-reported

Estimated monthly payment

MONTHLY
$8,774
AT RATE
5%
recorded at approval
TOTAL INTEREST
$10,583
over 2 yrs
TOTAL REPAID
$210,583

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
COTTAGE GROVE, MN 55016
INDUSTRY
Soap and Other Detergent Manufacturing · NAICS 325611
BUSINESS STRUCTURE
Corporation
LOAN TERM
2 years
INITIAL INTEREST RATE
5%
LOAN STATUS
Paid in Full
CONGRESSIONAL DIST.
02
COTTAGE GROVE, MN 55016

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