Advanced Auto Transport, Inc.
Advanced Auto Transport, Inc. is located in Lake Elmo, MN, and the SBA lists its industry as Other Support Activities for Road Transportation. It was approved for an SBA 7(a) loan of $500,000 for a change of ownership on January 24, 2025.
SBA 7(a) loan, change of ownership, approved Jan 24, 2025
- Gross approval
- $500,000
- SBA-guaranteed amount
- $375,000 (75% of the approval)
- Lender
- Highland Bank, St. Paul, MN
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 7.5%, fixed
- Term
- 10 years (120 months)
- Estimated maturity
- January 24, 2035 (estimated, approval date plus term)
- Estimated monthly payment
- $5,935 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Feb 10, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 9
- Business type
- Corporation
- NAICS
- 488490, Other Support Activities for Road Transportation
- Project location
- Washington County, MN
- SBA district office
- Minnesota District Office
- Congressional district
- MN-04
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Other Support Activities for Road Transportation: $1,895,671.
- Average acquisition loan in Minnesota: $1,482,119.
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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