Bell's Angels Driving LLC
Bell's Angels Driving LLC is a business in Clifton Park, New York, operating in the automobile driving schools industry (NAICS 611692). The company was financed with an SBA 7(a) loan for a change of ownership of $630,000, approved on September 13, 2024, through the New York Business Development Corporation lender.
SBA 7(a) loan, change of ownership, approved Sep 13, 2024
$630,000 approvedLender: New York Business Development Corporation10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $630,000
- SBA-guaranteed amount
- $472,500 (75% of the approval)
- Lender
- New York Business Development Corporation, Latham, NY
- Processing method
- Standard 7(a): the lender submits the application for SBA review
- Initial interest rate
- 11.25%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- September 13, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $8,768 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Oct 28, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 8
- Business type
- Corporation
- NAICS
- 611692, Automobile Driving Schools
- Project location
- Saratoga County, NY
- SBA district office
- Syracuse District Office
- Congressional district
- NY-20
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Automobile Driving Schools: $1,740,775.
- Average acquisition loan in New York: $1,771,512.
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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