TWOM Venture Partners LLC
TWOM Venture Partners LLC is a business in Lyndhurst, New Jersey, in the automotive parts and accessories retailers industry. It was financed with an SBA 7(a) loan for a change of ownership of $880,800, provided by The Huntington National Bank and approved on August 15, 2024.
SBA 7(a) loan, change of ownership, approved Aug 15, 2024
$880,800 approvedLender: The Huntington National Bank10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $880,800
- SBA-guaranteed amount
- $660,600 (75% of the approval)
- Lender
- The Huntington National Bank, Columbus, OH
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 11%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- August 15, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $12,133 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Aug 20, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 4
- Business type
- Corporation
- NAICS
- 441330, Automotive Parts and Accessories Retailers
- Project location
- Bergen County, NJ
- SBA district office
- New Jersey District Office
- Congressional district
- NJ-09
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 47% of acquisition loans in Automotive Parts and Accessories Retailers on this site.
- Average acquisition loan in Automotive Parts and Accessories Retailers: $1,270,623.
- Average acquisition loan in New Jersey: $1,626,307.
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 New Jersey
- Val-U Auto Parts L.L.C., Berlin