B & B Used Auto Parts LLC
B & B Used Auto Parts LLC is an automotive parts and accessories retailer located in Upper Marlboro, Maryland. The company was financed with an SBA 7(a) loan for a change of ownership, in the amount of $2,675,000, approved on December 9, 2024 by Live Oak Banking Company.
SBA 7(a) loan, change of ownership, approved Dec 9, 2024
$2,675,000 approvedLender: Live Oak Banking Company25 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $2,675,000
- SBA-guaranteed amount
- $2,006,250 (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
- 8.75%, fixed
- Term
- 25 years (300 months)
- Estimated maturity
- December 9, 2049 (estimated, approval date plus term)
- Estimated monthly payment
- $21,992 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jan 30, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 12
- Business type
- Corporation
- NAICS
- 441330, Automotive Parts and Accessories Retailers
- Project location
- Prince Georges County, MD
- SBA district office
- Washington District Office
- Congressional district
- MD-04
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 89% of acquisition loans in Automotive Parts and Accessories Retailers on this site.
- Average acquisition loan in Automotive Parts and Accessories Retailers: $1,270,623.
- Average acquisition loan in Maryland: $1,627,337.
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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