Cyclone Gasoline Enterprises LLC
Cyclone Gasoline Enterprises LLC is a gasoline station with convenience store business located in Lovelock, Nevada, in the gasoline stations with convenience stores industry. The company was financed with an SBA 7(a) loan for a change of ownership of $1,208,000, approved on April 17, 2024 through Readycap Lending, LLC.
SBA 7(a) loan, change of ownership, approved Apr 17, 2024
$1,208,000 approvedLender: Readycap Lending, LLC10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $1,208,000
- SBA-guaranteed amount
- $906,000 (75% of the approval)
- Lender
- Readycap Lending, LLC, Berkeley Heights, NJ
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 11%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- April 17, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $16,640 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Apr 25, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 6
- Business type
- Corporation
- NAICS
- 457110, Gasoline Stations with Convenience Stores
- Project location
- Pershing County, NV
- SBA district office
- Nevada District Office
- Congressional district
- NV-02
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 29% of acquisition loans in Gasoline Stations with Convenience Stores on this site.
- Average acquisition loan in Gasoline Stations with Convenience Stores: $2,177,273.
- Average acquisition loan in Nevada: $1,617,910.
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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