Main Street Registry

Lowcountry Automotive & Performance

Moncks Corner, SC · General Automotive Repair · NAICS 811111

Lowcountry Automotive & Performance is a general automotive repair business located in Moncks Corner, South Carolina. It was financed with an SBA 7(a) loan for a change of ownership, in the amount of $500,000, through Mechanics and Farmers Bank, with the loan approved on February 11, 2025.

SBA 7(a) loan, change of ownership, approved Feb 11, 2025

$500,000 approvedLender: Mechanics and Farmers Bank10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$500,000
SBA-guaranteed amount
$375,000 (75% of the approval)
Lender
Mechanics and Farmers Bank, Durham, NC
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
10.25%, variable
Term
10 years (120 months)
Estimated maturity
February 11, 2035 (estimated, approval date plus term)
Estimated monthly payment
$6,677 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Feb 27, 2025
Loan status
Status not reported (SBA exemption)
Jobs supported
5
Business type
Corporation
NAICS
811111, General Automotive Repair
Project location
Berkeley County, SC
SBA district office
South Carolina District Office
Congressional district
SC-01
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Average acquisition loan in General Automotive Repair: $1,353,136.
  • Average acquisition loan in South Carolina: $1,827,509.

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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Same industry in South Carolina