Wheel Shop Utah Inc.
Wheel Shop Utah Inc. is a business in Roy, Utah, in the All Other Automotive Repair and Maintenance industry (NAICS 811198). It was financed with an SBA 7(a) loan for a change of ownership of $500,000, made by Live Oak Banking Company, with approval dated February 12, 2025.
SBA 7(a) loan, change of ownership, approved Feb 12, 2025
$500,000 approvedLender: Live Oak Banking Company10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $500,000
- SBA-guaranteed amount
- $375,000 (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
- 10.5%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- February 12, 2035 (estimated, approval date plus term)
- Estimated monthly payment
- $6,747 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Feb 25, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 8
- Business type
- Corporation
- NAICS
- 811198, All Other Automotive Repair and Maintenance
- Project location
- Weber County, UT
- SBA district office
- Utah District Office
- Congressional district
- UT-01
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Average acquisition loan in All Other Automotive Repair and Maintenance: $1,674,977.
- Average acquisition loan in Utah: $1,761,092.
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 Utah
- One Call Auto Inc., Eagle Mountain