Johnson Automotive Group Michigan, LLC
Johnson Automotive Group Michigan, LLC, located in Benton Harbor, Michigan, operates in the New Car Dealers industry (NAICS 441110). The company was financed with an SBA 7(a) loan for a change of ownership of $1,514,400, approved on January 29, 2026 by First Merchants Bank.
SBA 7(a) loan, change of ownership, approved Jan 29, 2026
$1,514,400 approvedLender: First Merchants Bank10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $1,514,400
- SBA-guaranteed amount
- $1,135,800 (75% of the approval)
- Lender
- First Merchants Bank, Indianapolis, IN
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 6.75%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- January 29, 2036 (estimated, approval date plus term)
- Estimated monthly payment
- $17,389 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- May 1, 2026
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 27
- Business type
- Corporation
- NAICS
- 441110, New Car Dealers
- Project location
- Berrien County, MI
- SBA district office
- Michigan District Office
- Congressional district
- MI-06
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 17% of acquisition loans in New Car Dealers on this site.
- Average acquisition loan in New Car Dealers: $3,540,626.
- Average acquisition loan in Michigan: $1,645,728.
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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