2856 Johnstown Road LLC
2856 Johnstown Road LLC is an all other automotive repair and maintenance business located in Columbus, Ohio. It was financed with an SBA 7(a) loan for a change of ownership totaling $1,508,000, approved on September 30, 2024, through First Commonwealth Bank.
SBA 7(a) loan, change of ownership, approved Sep 30, 2024
$1,508,000 approvedLender: First Commonwealth Bank25 years termPaid in fullLoan details
- Gross approval
- $1,508,000
- SBA-guaranteed amount
- $1,131,000 (75% of the approval)
- Lender
- First Commonwealth Bank, Indiana, PA
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10.75%, variable
- Term
- 25 years (300 months)
- Estimated maturity
- September 30, 2049 (estimated, approval date plus term)
- Estimated monthly payment
- $14,508 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Nov 26, 2024
- Loan status
- Paid in full
- Jobs supported
- 12
- Business type
- Corporation
- NAICS
- 811198, All Other Automotive Repair and Maintenance
- Project location
- Franklin County, OH
- SBA district office
- Columbus District Office
- Congressional district
- OH-03
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 50% of acquisition loans in All Other Automotive Repair and Maintenance on this site.
- Average acquisition loan in All Other Automotive Repair and Maintenance: $1,674,977.
- Average acquisition loan in Ohio: $1,840,340.
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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