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Lumos Motors LLC

Odessa, TX · New Car Dealers · NAICS 441110

Lumos Motors LLC is a New Car Dealers business located in Odessa, Texas (NAICS 441110). The company was financed with an SBA 7(a) loan for a change of ownership of $3.75 million, approved on October 31, 2024 by Live Oak Banking Company.

SBA 7(a) loan, change of ownership, approved Oct 31, 2024

$3,750,000 approvedLender: Live Oak Banking Company10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$3,750,000
SBA-guaranteed amount
$2,812,500 (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
9.25%, variable
Term
10 years (120 months)
Estimated maturity
October 31, 2034 (estimated, approval date plus term)
Estimated monthly payment
$48,012 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Dec 4, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
79
Business type
Corporation
NAICS
441110, New Car Dealers
Project location
Ector County, TX
SBA district office
Lubbock District Office
Congressional district
TX-11
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 48% of acquisition loans in New Car Dealers on this site.
  • Average acquisition loan in New Car Dealers: $3,540,626.
  • Average acquisition loan in Texas: $1,944,682.

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 Texas