Coleman Automotive Le Mars, LLC
Coleman Automotive Le Mars, LLC is a new car dealer in Le Mars, Iowa, classified under NAICS 441110 (New Car Dealers). The company was approved for an SBA 504 loan of $5,386,000 on November 28, 2025, through Bank Midwest with Dakota Business Finance as the certified development company, to finance real estate or equipment. The loan is listed as not yet funded.
SBA 504 loan, approved Nov 28, 2025
$5,386,000 SBA portionCDC: Dakota Business Finance25 years termApproved, not yet fundedLoan details
- SBA (CDC) portion
- $5,386,000
- Bank portion
- $7,491,000
- Estimated project size
- $14,307,778 (estimated)
- Estimated owner equity
- $1,430,778 (estimated, about 10% of the project)
- Bank lender
- Bank Midwest, Spirit Lake, IA
- Processing method
- Accredited Lenders Program: CDC with an expedited SBA review
- Term
- 25 years (300 months)
- Estimated maturity
- November 28, 2050 (estimated, approval date plus term)
- Loan status
- Approved, not yet funded
- Jobs supported
- 13
- Business type
- Corporation
- NAICS
- 441110, New Car Dealers
- Franchise
- General Motors, LLC (Chevrolet, Buick, GM, Cadillac) Dealer Sales and Service Agreement
- Project location
- Plymouth County, IA
- SBA district office
- Des Moines District Office
- Congressional district
- IA-4
- Collateral
- Yes
Estimated share of project by source
Bank 52% SBA (CDC) 38% Owner 10%
- Larger than 97% of expansion loans in New Car Dealers on this site.
- Average expansion loan in New Car Dealers: $3,138,111.
- Average expansion loan in Iowa: $1,994,971.
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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