Aquidneck Trucking LLC
Aquidneck Trucking LLC, located in Chelmsford, MA, operates in the general freight trucking, long-distance, less than truckload industry (NAICS 484122). The business was financed with an SBA 7(a) loan for a change of ownership of $815,900, approved on February 15, 2024, through Citizens Bank.
SBA 7(a) loan, change of ownership, approved Feb 15, 2024
$815,900 approvedLender: Citizens Bank10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $815,900
- SBA-guaranteed amount
- $611,925 (75% of the approval)
- Lender
- Citizens Bank, Elizabethton, TN
- 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 15, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $11,009 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Mar 29, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 10
- Business type
- Corporation
- NAICS
- 484122, General Freight Trucking, Long-Distance, Less Than Truckload
- Project location
- Middlesex County, MA
- SBA district office
- Massachusetts District Office
- Congressional district
- MA-03
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Average acquisition loan in General Freight Trucking, Long-Distance, Less Than Truckload: $1,721,450.
- Average acquisition loan in Massachusetts: $1,643,977.
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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