S & S Transit, Inc.
S & S Transit, Inc. is located in Winchester, VA, and the SBA lists its industry as Couriers and Express Delivery Services. It was approved for an SBA 7(a) loan of $648,000 for a change of ownership on July 2, 2024.
SBA 7(a) loan, change of ownership, approved Jul 2, 2024
- Gross approval
- $648,000
- SBA-guaranteed amount
- $486,000 (75% of the approval)
- Lender
- First Bank of Central Ohio, Worthington, OH
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 11.25%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- July 2, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $9,018 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Aug 1, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 9
- Business type
- Corporation
- NAICS
- 492110, Couriers and Express Delivery Services
- Project location
- Frederick County, VA
- SBA district office
- Richmond District Office
- Congressional district
- VA-10
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 15% of acquisition loans in Couriers and Express Delivery Services on this site.
- Average acquisition loan in Couriers and Express Delivery Services: $1,263,343.
- Average acquisition loan in Virginia: $1,860,760.
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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