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C&m Leasing of Scotland County, Inc.

Laurinburg, NC · General Automotive Repair · NAICS 811111

C&m Leasing of Scotland County, Inc. is a general automotive repair business located in Laurinburg, North Carolina. It was financed with an SBA 7(a) loan for a change of ownership totaling $2,126,000, approved by American Momentum Bank on October 28, 2024.

SBA 7(a) loan, change of ownership, approved Oct 28, 2024

$2,126,000 approvedLender: American Momentum Bank10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$2,126,000
SBA-guaranteed amount
$1,594,500 (75% of the approval)
Lender
American Momentum Bank, College Station, TX
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
10%, variable
Term
10 years (120 months)
Estimated maturity
October 28, 2034 (estimated, approval date plus term)
Estimated monthly payment
$28,095 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Nov 1, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
23
Business type
Corporation
NAICS
811111, General Automotive Repair
Project location
Scotland County, NC
SBA district office
North Carolina District Office
Congressional district
NC-09
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 84% of acquisition loans in General Automotive Repair on this site.
  • Average acquisition loan in General Automotive Repair: $1,353,136.
  • Average acquisition loan in North Carolina: $1,952,444.

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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Same industry in North Carolina