Boruff's Auto Body and Sales Inc.
Boruff's Auto Body and Sales Inc. is an automotive body, paint, and interior repair and maintenance business located in Maryville, TN. The company was financed with an SBA 7(a) loan for a change of ownership totaling $1.5 million, approved by Truliant FCU on May 21, 2025.
SBA 7(a) loan, change of ownership, approved May 21, 2025
$1,500,000 approvedLender: Truliant FCU10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $1,500,000
- SBA-guaranteed amount
- $1,125,000 (75% of the approval)
- Lender
- Truliant FCU, Winston-Salem, NC
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 9.75%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- May 21, 2035 (estimated, approval date plus term)
- Estimated monthly payment
- $19,616 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jun 11, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 10
- Business type
- Corporation
- NAICS
- 811121, Automotive Body, Paint, and Interior Repair and Maintenance
- Project location
- Blount County, TN
- SBA district office
- Tennessee District Office
- Congressional district
- TN-02
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 54% of acquisition loans in Automotive Body, Paint, and Interior Repair and Maintenance on this site.
- Average acquisition loan in Automotive Body, Paint, and Interior Repair and Maintenance: $1,738,412.
- Average acquisition loan in Tennessee: $1,738,925.
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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