Tony Hammock Inc.
Tony Hammock Inc. is located in Cullman, AL, and the SBA lists its industry as General Automotive Repair. It was approved for an SBA 7(a) loan of $659,100 for a change of ownership on December 5, 2023.
SBA 7(a) loan, change of ownership, approved Dec 5, 2023
- Gross approval
- $659,100
- SBA-guaranteed amount
- $494,325 (75% of the approval)
- Lender
- Peoples Bank of Alabama, Cullman, AL
- Processing method
- Standard 7(a): the lender submits the application for SBA review
- Initial interest rate
- 8.75%, variable
- Term
- 20 years (240 months)
- Estimated maturity
- December 5, 2043 (estimated, approval date plus term)
- Estimated monthly payment
- $5,825 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jan 26, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 5
- Business type
- Corporation
- NAICS
- 811111, General Automotive Repair
- Project location
- Cullman County, AL
- SBA district office
- Alabama District Office
- Congressional district
- AL-04
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 19% of acquisition loans in General Automotive Repair on this site.
- Average acquisition loan in General Automotive Repair: $1,353,136.
- Average acquisition loan in Alabama: $1,764,717.
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 Alabama
- Southeast Repair Services, Inc., Dothan
- Gulf States Performance LLC, Robertsdale