Affordable Used Cars
Affordable Used Cars, located in Wasilla, Alaska, operates in the used car dealers industry (NAICS 441120). The business was financed with an SBA 504 loan, which financed real estate or equipment through an SBA 504 loan of $1,792,000 approved on May 13, 2024, through Northrim Bank with Evergreen Business Capital as the certified development company.
SBA 504 loan, approved May 13, 2024
$1,792,000 SBA portionCDC: Evergreen Business Capital25 years termStatus not reported (SBA exemption)Loan details
- SBA (CDC) portion
- $1,792,000
- Bank portion
- $2,182,853
- Estimated project size
- $4,416,503 (estimated)
- Estimated owner equity
- $441,650 (estimated, about 10% of the project)
- Bank lender
- Northrim Bank, Anchorage, AK
- Processing method
- Accredited Lenders Program: CDC with an expedited SBA review
- Term
- 25 years (300 months)
- Estimated maturity
- May 13, 2049 (estimated, approval date plus term)
- First disbursement
- Sep 11, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 8
- Business type
- Corporation
- NAICS
- 441120, Used Car Dealers
- Project location
- Matanuska Susitna County, AK
- SBA district office
- Alaska District Office
- Congressional district
- AK-0
- Collateral
- Yes
Estimated share of project by source
Bank 49% SBA (CDC) 41% Owner 10%
- Larger than 59% of expansion loans in Used Car Dealers on this site.
- Average expansion loan in Used Car Dealers: $1,930,870.
- Average expansion loan in Alaska: $1,687,111.
Loan amounts are the SBA approval, not a purchase price. Figures labeled estimated are derived on this site and are not published by the SBA.
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