Main Street Registry

Sarah Jones Ford of St. Ignace, LLC

Grand Rapids, MI · New Car Dealers · NAICS 441110

Sarah Jones Ford of St. Ignace, LLC, located in Grand Rapids, Michigan, operates in the New Car Dealers industry (NAICS 441110) and is a Ford franchise under a Ford Motor Company Dealer Sales and Service Agreement. The business was financed with an SBA 7(a) loan for a change of ownership of $2,000,000, approved on September 11, 2025, by Newtek Bank, National Association.

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

$2,000,000 approvedLender: Newtek Bank, National Association25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$2,000,000
SBA-guaranteed amount
$1,500,000 (75% of the approval)
Lender
Newtek Bank, National Association, Miami, FL
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
10.5%, variable
Term
25 years (300 months)
Estimated maturity
September 11, 2050 (estimated, approval date plus term)
Estimated monthly payment
$18,884 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Sep 30, 2025
Loan status
Status not reported (SBA exemption)
Jobs supported
25
Business type
Corporation
NAICS
441110, New Car Dealers
Franchise
Ford Motor Company Dealer Sales and Service Agreement
Project location
Kent County, MI
SBA district office
Michigan District Office
Congressional district
MI-02
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 22% 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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Same industry in Michigan