Big O Tires 5874
Big O Tires 5874 is a tire dealer located in Anaheim, California, under NAICS code 441340. The business was financed with an SBA 7(a) loan for a change of ownership of $650,000, approved on November 9, 2023, by Live Oak Banking Company.
SBA 7(a) loan, change of ownership, approved Nov 9, 2023
$650,000 approvedLender: Live Oak Banking Company10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $650,000
- SBA-guaranteed amount
- $487,500 (75% of the approval)
- Lender
- Live Oak Banking Company, Wilmington, NC
- Processing method
- Standard 7(a): the lender submits the application for SBA review
- Initial interest rate
- 9.75%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- November 9, 2033 (estimated, approval date plus term)
- Estimated monthly payment
- $8,500 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Feb 26, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 12
- Business type
- Corporation
- NAICS
- 441340, Tire Dealers
- Project location
- Orange County, CA
- SBA district office
- Santa Ana District Office
- Congressional district
- CA-39
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 15% of acquisition loans in Tire Dealers on this site.
- Average acquisition loan in Tire Dealers: $1,502,731.
- Average acquisition loan in California: $1,688,228.
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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