Hobbs Autoplex Realty LLC
Hobbs Autoplex Realty LLC is a new car dealer located in Laurel, Mississippi, classified under NAICS code 441110 (New Car Dealers). The company financed real estate or equipment through an SBA 504 loan of $5 million, approved on May 22, 2024, with Community Bank of Mississippi as the lender and Central Mississippi Development Company, Inc. as the certified development company.
SBA 504 loan, approved May 22, 2024
$5,000,000 SBA portionCDC: Central Mississippi Development Company, Inc.25 years termApproved, not yet fundedLoan details
- SBA (CDC) portion
- $5,000,000
- Bank portion
- $10,322,782
- Estimated project size
- $17,025,313 (estimated)
- Estimated owner equity
- $1,702,531 (estimated, about 10% of the project)
- Bank lender
- Community Bank of Mississippi, Flowood, MS
- CDC
- Central Mississippi Development Company, Inc.
- Processing method
- 504 Basic: standard SBA processing through a CDC
- Term
- 25 years (300 months)
- Estimated maturity
- May 22, 2049 (estimated, approval date plus term)
- Loan status
- Approved, not yet funded
- Business type
- Corporation
- NAICS
- 441110, New Car Dealers
- Franchise
- Toyota Motors Sales, U.S.A., Inc. - Dealer Agreement
- Project location
- Jones County, MS
- SBA district office
- Mississippi District Office
- Congressional district
- MS-4
- Collateral
- Yes
Estimated share of project by source
Bank 61% SBA (CDC) 29% Owner 10%
- Larger than 81% of expansion loans in New Car Dealers on this site.
- Average expansion loan in New Car Dealers: $3,138,111.
- Average expansion loan in Mississippi: $3,137,429.
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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