Erie Vo-Vo Inc
Erie Vo-Vo Inc is an automotive parts and accessories retailer located in Whitesboro, NY. The company was financed with an SBA 7(a) loan for a change of ownership of $847,000, approved by Manufacturers and Traders Trust Company on January 29, 2024.
SBA 7(a) loan, change of ownership, approved Jan 29, 2024
$847,000 approvedLender: Manufacturers and Traders Trust Company10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $847,000
- SBA-guaranteed amount
- $635,250 (75% of the approval)
- Lender
- Manufacturers and Traders Trust Company, Buffalo, NY
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10.5%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- January 29, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $11,429 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Apr 9, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 24
- Business type
- Corporation
- NAICS
- 441330, Automotive Parts and Accessories Retailers
- Project location
- Oneida County, NY
- SBA district office
- Syracuse District Office
- Congressional district
- NY-22
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 42% of acquisition loans in Automotive Parts and Accessories Retailers on this site.
- Average acquisition loan in Automotive Parts and Accessories Retailers: $1,270,623.
- Average acquisition loan in New York: $1,771,512.
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 New York
- Empire Abrasives; Black Hawk Abrasives, Ronkonkoma