C&R ABC Rental Sales & Service Inc
C&R ABC Rental Sales & Service Inc, located in Buffalo, NY, operates in the general rental centers industry (NAICS 532310). The business was financed with an SBA 7(a) loan for a change of ownership of $742,500, approved on April 6, 2024 through Manufacturers and Traders Trust Company.
SBA 7(a) loan, change of ownership, approved Apr 6, 2024
$742,500 approvedLender: Manufacturers and Traders Trust Company10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $742,500
- SBA-guaranteed amount
- $556,875 (75% of the approval)
- Lender
- Manufacturers and Traders Trust Company, Buffalo, NY
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10.55%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- April 6, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $10,040 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- May 3, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 6
- Business type
- Corporation
- NAICS
- 532310, General Rental Centers
- Project location
- Erie County, NY
- SBA district office
- Buffalo District Office
- Congressional district
- NY-26
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Average acquisition loan in General Rental Centers: $1,770,300.
- Average acquisition loan in New York: $1,771,512.
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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