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SBA 7(a)Active, details exempt

SMH RECORDS, LLC

CORNELIUS, NCNewtek Small Business Finance, Inc.Record Production and Distribution · NAICS 512250
APPROVAL AMOUNT
$1,300,000
PROGRAM
SBA 7(a)
8 years term
APPROVED
2023-02-24
10.5% rate
JOBS SUPPORTED
9
Borrower-reported

Estimated monthly payment

MONTHLY
$20,072
AT RATE
10.5%
recorded at approval
TOTAL INTEREST
$626,914
over 8 yrs
TOTAL REPAID
$1,926,914

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
CORNELIUS, NC 28031
INDUSTRY
Record Production and Distribution · NAICS 512250
BUSINESS STRUCTURE
Corporation
LOAN TERM
8 years
INITIAL INTEREST RATE
10.5%
LOAN STATUS
Active, details exempt
CONGRESSIONAL DIST.
12
CORNELIUS, NC 28031

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