SBA 7(a) Loan Success Story
- 1st Mortgage:
- Term: 15 years
- Jobs Created: 50
- Jobs Retained: 112
Thomas USAF Group originated and underwrote a $3.5Million SBA 7(a) loan to Eleven Construction, LLC that is headquartered in St. Croix, Virgin Islands. Thomas Financial Group will retain a participation in the loan.
The loan will enable the company to new purchase equipment and provide working capital. This loan will create 50 new jobs and retain 112 jobs.
Eleven provides the construction and maintenance of industrial and commercial properties such as the Limetree Bay Terminals Refinery (formally known as Hovensa Refinery), Alcoa and WAPA (Water and Power Authority).
Thomas USAF has now originated and underwritten a total of $20,000,000 (5 loans) in USDA and SBA loans for Vivot Equipment Corporation and its affiliates! This loan could not have been approved without assistance from the USDA B&I and SBA 7(a) Guaranteed Loan Programs.