Vans Tire of Buffalo, LLC
Vans Tire of Buffalo, LLC is a tire dealer in Buffalo, New York, classified under the NAICS code 441340 for tire dealers. The company was financed with an SBA 7(a) loan for a change of ownership, in the amount of $3,608,000, approved on August 16, 2024 by First Commonwealth Bank.
SBA 7(a) loan, change of ownership, approved Aug 16, 2024
$3,608,000 approvedLender: First Commonwealth Bank10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $3,608,000
- SBA-guaranteed amount
- $2,706,000 (75% of the approval)
- Lender
- First Commonwealth Bank, Indiana, PA
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10.5%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- August 16, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $48,685 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Aug 30, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 22
- Business type
- Corporation
- NAICS
- 441340, Tire Dealers
- Project location
- Erie County, NY
- SBA district office
- Buffalo District Office
- Congressional district
- NY-26
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 92% of acquisition loans in Tire Dealers on this site.
- Average acquisition loan in Tire Dealers: $1,502,731.
- Average acquisition loan in New York: $1,771,512.
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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