1104 Thornton LLC
1104 Thornton LLC is located in Lithia Springs, GA, and the SBA lists its industry as Gasoline Stations with Convenience Stores. It was approved for an SBA 7(a) loan of $900,000 for a change of ownership on May 16, 2024.
SBA 7(a) loan, change of ownership, approved May 16, 2024
- Gross approval
- $900,000
- SBA-guaranteed amount
- $675,000 (75% of the approval)
- Lender
- Commonwealth Business Bank, Los Angeles, CA
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10.5%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- May 16, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $12,144 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- May 24, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 4
- Business type
- Corporation
- NAICS
- 457110, Gasoline Stations with Convenience Stores
- Franchise
- Wallace Oil Company. Inc (Multi-Brands) Fuel Supply Agreement
- Project location
- Douglas County, GA
- SBA district office
- Georgia District Office
- Congressional district
- GA-13
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 17% of acquisition loans in Gasoline Stations with Convenience Stores on this site.
- Average acquisition loan in Gasoline Stations with Convenience Stores: $2,177,273.
- 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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