Banister Real Estate 1250 LLC
Banister Real Estate 1250 LLC, located in Norfolk, Virginia, operates in the New Car Dealers industry (NAICS 441110) and is a franchised business under a Nissan North America, Inc. dealer sales and service agreement. The company financed real estate or equipment through an SBA 504 loan of $2.9 million, approved on January 13, 2025, with Live Oak Banking Company as the bank partner and Business Finance Group, Inc.
SBA 504 loan, approved Jan 13, 2025
$2,926,000 SBA portionCDC: Business Finance Group, Inc.25 years termStatus not reported (SBA exemption)Loan details
- SBA (CDC) portion
- $2,926,000
- Bank portion
- $3,575,000
- Estimated project size
- $7,223,333 (estimated)
- Estimated owner equity
- $722,333 (estimated, about 10% of the project)
- Bank lender
- Live Oak Banking Company, Wilmington, NC
- Processing method
- Accredited Lenders Program: CDC with an expedited SBA review
- Term
- 25 years (300 months)
- Estimated maturity
- January 13, 2050 (estimated, approval date plus term)
- First disbursement
- Nov 12, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 10
- Business type
- Corporation
- NAICS
- 441110, New Car Dealers
- Franchise
- Nissan North America, Inc. - Dealer Sales and Service Agreement
- Project location
- Norfolk City County, VA
- SBA district office
- Richmond District Office
- Congressional district
- VA-2
- Collateral
- Yes
Estimated share of project by source
Bank 49% SBA (CDC) 41% Owner 10%
- Larger than 53% of expansion loans in New Car Dealers on this site.
- Average expansion loan in New Car Dealers: $3,138,111.
- Average expansion loan in Virginia: $1,938,955.
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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Same industry in Virginia
- KKS Automotive VA, LLC, Prince George
- Banister Chrysler Dodge Jeep Ram of Hampton, Hampton