Babcocks Service Center, Inc.
Babcocks Service Center, Inc. is located in Cockeysville, MD, and the SBA lists its industry as General Automotive Repair. It was approved for an SBA 7(a) loan of $600,000 for a change of ownership on January 15, 2025.
SBA 7(a) loan, change of ownership, approved Jan 15, 2025
- Gross approval
- $600,000
- SBA-guaranteed amount
- $450,000 (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
- 9.5%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- January 15, 2035 (estimated, approval date plus term)
- Estimated monthly payment
- $7,764 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Feb 3, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 1
- Business type
- Corporation
- NAICS
- 811111, General Automotive Repair
- Project location
- Baltimore County, MD
- SBA district office
- Baltimore District Office
- Congressional district
- MD-01
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 11% of acquisition loans in General Automotive Repair on this site.
- Average acquisition loan in General Automotive Repair: $1,353,136.
- Average acquisition loan in Maryland: $1,627,337.
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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