Kingsport Tire & Auto Care, Inc.
Kingsport Tire & Auto Care, Inc. is an automotive parts and accessories store located in Kingsport, Tennessee, classified under NAICS code 441310 (Automotive Parts and Accessories Stores). The business was financed with an SBA 7(a) loan for a change of ownership of $1,125,000, approved on March 13, 2025 by Live Oak Banking Company.
SBA 7(a) loan, change of ownership, approved Mar 13, 2025
$1,125,000 approvedLender: Live Oak Banking Company10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $1,125,000
- SBA-guaranteed amount
- $843,750 (75% of the approval)
- Lender
- Live Oak Banking Company, Wilmington, NC
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 9.5%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- March 13, 2035 (estimated, approval date plus term)
- Estimated monthly payment
- $14,557 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Apr 22, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 10
- Business type
- Corporation
- NAICS
- 441310, Automotive Parts and Accessories Stores
- Project location
- Sullivan County, TN
- SBA district office
- Tennessee District Office
- Congressional district
- TN-01
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Automotive Parts and Accessories Stores: $1,051,300.
- Average acquisition loan in Tennessee: $1,738,925.
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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