Bick's Driving School of Southwest Ohio LLC
Bick's Driving School of Southwest Ohio LLC, located in Cincinnati, Ohio, operates in the automobile driving schools industry. The business was financed with an SBA 7(a) loan for a change of ownership in the amount of $635,000, approved by The Huntington National Bank on January 11, 2024.
SBA 7(a) loan, change of ownership, approved Jan 11, 2024
$635,000 approvedLender: The Huntington National Bank10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $635,000
- SBA-guaranteed amount
- $476,250 (75% of the approval)
- Lender
- The Huntington National Bank, Columbus, OH
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10.75%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- January 11, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $8,658 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jan 19, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 30
- Business type
- Corporation
- NAICS
- 611692, Automobile Driving Schools
- Project location
- Hamilton County, OH
- SBA district office
- Columbus District Office
- Congressional district
- OH-01
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Automobile Driving Schools: $1,740,775.
- 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.
Is this your company? Claim or correct this listing. See Corrections.