Century Glass Company, LLC
Century Glass Company, LLC is an automotive glass replacement shop located in Lansing, Michigan. The company was financed with an SBA 7(a) loan for a change of ownership, in the amount of $675,000, approved on July 26, 2024, through Fifth Third Bank.
SBA 7(a) loan, change of ownership, approved Jul 26, 2024
$675,000 approvedLender: Fifth Third Bank10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $675,000
- SBA-guaranteed amount
- $506,250 (75% of the approval)
- Lender
- Fifth Third Bank, Cincinnati, OH
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 8%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- July 26, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $8,190 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Sep 12, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 5
- Business type
- Corporation
- NAICS
- 811122, Automotive Glass Replacement Shops
- Project location
- Ingham County, MI
- SBA district office
- Michigan District Office
- Congressional district
- MI-07
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 31% of acquisition loans in Automotive Glass Replacement Shops on this site.
- Average acquisition loan in Automotive Glass Replacement Shops: $1,116,585.
- Average acquisition loan in Michigan: $1,645,728.
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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