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Wallace Automotive 1 LLC

North Chesterfield, VA · General Automotive Repair · NAICS 811111

Wallace Automotive 1 LLC, located in North Chesterfield, Virginia, operates in general automotive repair (NAICS 811111). The company was financed with an SBA 7(a) loan for a change of ownership totaling $4.9 million, approved on May 22, 2025, through Pathward National Association.

SBA 7(a) loan, change of ownership, approved May 22, 2025

$4,900,000 approvedLender: Pathward National Association10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$4,900,000
SBA-guaranteed amount
$3,675,000 (75% of the approval)
Lender
Pathward National Association, Sioux Falls, SD
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
9%, variable
Term
10 years (120 months)
Estimated maturity
May 22, 2035 (estimated, approval date plus term)
Estimated monthly payment
$62,071 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Jun 3, 2025
Loan status
Status not reported (SBA exemption)
Jobs supported
12
Business type
Corporation
NAICS
811111, General Automotive Repair
Project location
Chesterfield County, VA
SBA district office
Richmond District Office
Congressional district
VA-07
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 99% of acquisition loans in General Automotive Repair on this site.
  • Average acquisition loan in General Automotive Repair: $1,353,136.
  • Average acquisition loan in Virginia: $1,860,760.

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 Virginia