Torke Auto 1 LLC
Torke Auto 1 LLC is located in College Park, GA, and the SBA lists its industry as Automotive Body, Paint, and Interior Repair and Maintenance. It was approved for an SBA 7(a) loan of $4,350,000 for a change of ownership on November 14, 2023.
SBA 7(a) loan, change of ownership, approved Nov 14, 2023
- Gross approval
- $4,350,000
- SBA-guaranteed amount
- $3,262,500 (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
- 10%, variable
- Term
- 16 years (192 months)
- Estimated maturity
- November 14, 2039 (estimated, approval date plus term)
- Estimated monthly payment
- $45,497 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Feb 28, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 8
- Business type
- Corporation
- NAICS
- 811121, Automotive Body, Paint, and Interior Repair and Maintenance
- Project location
- Clayton County, GA
- SBA district office
- Georgia District Office
- Congressional district
- GA-05
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 96% of acquisition loans in Automotive Body, Paint, and Interior Repair and Maintenance on this site.
- Average acquisition loan in Automotive Body, Paint, and Interior Repair and Maintenance: $1,738,412.
- Average acquisition loan in Georgia: $2,017,638.
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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