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Clark's Body Shop LLc

Fremont, MI · Automotive Body, Paint, and Interior Repair and Maintenance · NAICS 811121

Clark's Body Shop LLc is an automotive body, paint, and interior repair and maintenance business located in Fremont, Michigan. The company was financed with an SBA 7(a) loan for a change of ownership, in the amount of $1,847,700, approved by The Huntington National Bank on August 9, 2024.

SBA 7(a) loan, change of ownership, approved Aug 9, 2024

$1,847,700 approvedLender: The Huntington National Bank13 years termStatus not reported (SBA exemption)Loan details
Gross approval
$1,847,700
SBA-guaranteed amount
$1,385,775 (75% of the approval)
Lender
The Huntington National Bank, Columbus, OH
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
8.95%, fixed
Term
13 years (156 months)
Estimated maturity
August 9, 2037 (estimated, approval date plus term)
Estimated monthly payment
$20,081 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Aug 23, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
6
Business type
Corporation
NAICS
811121, Automotive Body, Paint, and Interior Repair and Maintenance
Project location
Newaygo County, MI
SBA district office
Michigan District Office
Congressional district
MI-02
Collateral
Yes
Guaranteed portion sold on secondary market
Not reported as sold
Revolving line of credit
No (term loan)
  • Larger than 67% 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 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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Same industry in Michigan