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SBA 7(a)Active, details exempt

Richard Galgano Sole Proprietorship

FRANKLIN LAKES, NJLive Oak Banking CompanyInsurance Agencies and Brokerages · NAICS 524210
APPROVAL AMOUNT
$2,080,000
PROGRAM
SBA 7(a)
10 years term
APPROVED
2023-02-10
8.23% rate
JOBS SUPPORTED
7
Borrower-reported

Estimated monthly payment

MONTHLY
$25,490
AT RATE
8.23%
recorded at approval
TOTAL INTEREST
$978,756
over 10 yrs
TOTAL REPAID
$3,058,756

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
FRANKLIN LAKES, NJ 07417
INDUSTRY
Insurance Agencies and Brokerages · NAICS 524210
BUSINESS STRUCTURE
Individual
LOAN TERM
10 years
INITIAL INTEREST RATE
8.23%
LOAN STATUS
Active, details exempt
CONGRESSIONAL DIST.
05
FRANKLIN LAKES, NJ 07417

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