Evolussion Tire Company Corp.
Evolussion Tire Company Corp. is located in Elizabeth, NJ, and the SBA lists its industry as Tire and Tube Merchant Wholesalers. It was approved for an SBA 504 loan ($1,308,000 SBA portion) on April 26, 2024 to finance real estate or equipment.
SBA 504 loan, approved Apr 26, 2024
- SBA (CDC) portion
- $1,308,000
- Bank portion
- $1,600,000
- Estimated project size
- $3,231,111 (estimated)
- Estimated owner equity
- $323,111 (estimated, about 10% of the project)
- Bank lender
- Bank of America, National Association, Charlotte, NC
- Processing method
- Accredited Lenders Program: CDC with an expedited SBA review
- Term
- 25 years (300 months)
- Estimated maturity
- April 26, 2049 (estimated, approval date plus term)
- First disbursement
- Jul 17, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 5
- Business type
- Corporation
- NAICS
- 423130, Tire and Tube Merchant Wholesalers
- Project location
- Union County, NJ
- SBA district office
- New Jersey District Office
- Congressional district
- NJ-8
- Collateral
- Yes
Estimated share of project by source
Bank 50% SBA (CDC) 40% Owner 10%
- Average expansion loan in Tire and Tube Merchant Wholesalers: $2,512,333.
- Average expansion loan in New Jersey: $2,533,058.
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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