Anderson Automotive Specialist, LLC
Anderson Automotive Specialist, LLC is a business in West Haven, Utah, in the automotive body, paint, and interior repair and maintenance industry. It was financed with an SBA 7(a) loan for a change of ownership of $1,375,000, approved on July 9, 2024, by Live Oak Banking Company, with 7 jobs reported.
SBA 7(a) loan, change of ownership, approved Jul 9, 2024
$1,375,000 approvedLender: Live Oak Banking Company10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $1,375,000
- SBA-guaranteed amount
- $1,031,250 (75% of the approval)
- Lender
- Live Oak Banking Company, Wilmington, NC
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- July 9, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $18,171 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jul 18, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 7
- Business type
- Corporation
- NAICS
- 811121, Automotive Body, Paint, and Interior Repair and Maintenance
- Project location
- Weber County, UT
- SBA district office
- Utah District Office
- Congressional district
- UT-01
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 47% of acquisition loans in Automotive Body, Paint, and Interior Repair and Maintenance on this site.
- Average acquisition loan in Automotive Body, Paint, and Interior Repair and Maintenance: $1,738,412.
- Average acquisition loan in Utah: $1,761,092.
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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