Extra Mile Auto Repair
Extra Mile Auto Repair is a general automotive repair business in Hudson, Florida, classified under NAICS code 811111. The business financed real estate or equipment through an SBA 504 loan of $1,021,000, with First-Citizens Bank & Trust Company as the lender and Sunshine State Economic Development Corporation as the certified development company, and the loan was approved on May 9, 2024.
SBA 504 loan, approved May 9, 2024
- SBA (CDC) portion
- $1,021,000
- Bank portion
- $1,238,400
- Estimated project size
- $2,510,444 (estimated)
- Estimated owner equity
- $251,044 (estimated, about 10% of the project)
- Bank lender
- First-Citizens Bank & Trust Company, Raleigh, NC
- Processing method
- Accredited Lenders Program: CDC with an expedited SBA review
- Term
- 25 years (300 months)
- Estimated maturity
- May 9, 2049 (estimated, approval date plus term)
- First disbursement
- Aug 14, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 5
- Business type
- Corporation
- NAICS
- 811111, General Automotive Repair
- Project location
- Pasco County, FL
- SBA district office
- South Florida District Office
- Congressional district
- FL-12
- Collateral
- Yes
Estimated share of project by source
Bank 49% SBA (CDC) 41% Owner 10%
- Larger than 4% of expansion loans in General Automotive Repair on this site.
- Average expansion loan in General Automotive Repair: $1,564,197.
- Average expansion loan in Florida: $2,058,496.
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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