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Cartelli Automotive, LLC

Columbia, SC · General Automotive Repair · NAICS 811111

Cartelli Automotive, LLC, located in Columbia, SC, operates in General Automotive Repair (NAICS 811111). The company was financed with an SBA 7(a) loan for a change of ownership of $900,000, approved on October 19, 2024, through First-Citizens Bank & Trust Company.

SBA 7(a) loan, change of ownership, approved Oct 19, 2024

$900,000 approvedLender: First-Citizens Bank & Trust Company25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$900,000
SBA-guaranteed amount
$675,000 (75% of the approval)
Lender
First-Citizens Bank & Trust Company, Raleigh, NC
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
10.5%, variable
Term
25 years (300 months)
Estimated maturity
October 19, 2049 (estimated, approval date plus term)
Estimated monthly payment
$8,498 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Nov 6, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
3
Business type
Corporation
NAICS
811111, General Automotive Repair
Project location
Lexington County, SC
SBA district office
South Carolina District Office
Congressional district
SC-02
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 37% of acquisition loans in General Automotive Repair on this site.
  • Average acquisition loan in General Automotive Repair: $1,353,136.
  • Average acquisition loan in South Carolina: $1,827,509.

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 South Carolina