Crown Automotive L. L. C.
Crown Automotive L. L. C. is an automobile and other motor vehicle merchant wholesaler located in Bloomington, Minnesota. The company financed real estate or equipment through an SBA 504 loan of $2,033,000, approved on May 17, 2024, with BMO Bank National Association as the lender and Twin Cities-Metro Certified Development Company as the certified development company.
SBA 504 loan, approved May 17, 2024
$2,033,000 SBA portionCDC: Twin Cities-Metro Certified Development Company25 years termStatus not reported (SBA exemption)Loan details
- SBA (CDC) portion
- $2,033,000
- Bank portion
- $2,484,000
- Estimated project size
- $5,018,889 (estimated)
- Estimated owner equity
- $501,889 (estimated, about 10% of the project)
- Bank lender
- BMO Bank National Association, Chicago, IL
- Processing method
- Accredited Lenders Program: CDC with an expedited SBA review
- Term
- 25 years (300 months)
- Estimated maturity
- May 17, 2049 (estimated, approval date plus term)
- First disbursement
- Feb 12, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 8
- Business type
- Corporation
- NAICS
- 423110, Automobile and Other Motor Vehicle Merchant Wholesalers
- Project location
- Hennepin County, MN
- SBA district office
- Minnesota District Office
- Congressional district
- MN-3
- Collateral
- Yes
Estimated share of project by source
Bank 49% SBA (CDC) 41% Owner 10%
- Average expansion loan in Automobile and Other Motor Vehicle Merchant Wholesalers: $2,371,889.
- Average expansion loan in Minnesota: $2,136,981.
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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