Automotive Unlimited Inc
Automotive Unlimited Inc, located in Guilford, Connecticut, operates in automotive body, paint, and interior repair and maintenance. The company was financed with an SBA 7(a) loan for a change of ownership of $1,386,000, approved on September 11, 2024, through lender Ion Bank.
SBA 7(a) loan, change of ownership, approved Sep 11, 2024
$1,386,000 approvedLender: Ion Bank25 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $1,386,000
- SBA-guaranteed amount
- $1,039,500 (75% of the approval)
- Lender
- Ion Bank, Naugatuck, CT
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 9.5%, variable
- Term
- 25 years (300 months)
- Estimated maturity
- September 11, 2049 (estimated, approval date plus term)
- Estimated monthly payment
- $12,109 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Mar 31, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 10
- Business type
- Corporation
- NAICS
- 811121, Automotive Body, Paint, and Interior Repair and Maintenance
- Project location
- South Central Ct County, CT
- SBA district office
- Connecticut District Office
- Congressional district
- CT-03
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 50% 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 Connecticut: $1,992,959.
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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