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Cole's Auto Repair & Service LLC

Ellisville, MO · General Automotive Repair · NAICS 811111

Cole's Auto Repair & Service LLC is a general automotive repair business located in Ellisville, Missouri, classified under NAICS 811111. The business was financed with an SBA 7(a) loan for a change of ownership in the amount of $508,500, approved on January 5, 2024, through Simmons Bank.

SBA 7(a) loan, change of ownership, approved Jan 5, 2024

$508,500 approvedLender: Simmons Bank10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$508,500
SBA-guaranteed amount
$381,375 (75% of the approval)
Lender
Simmons Bank, Pine Bluff, AR
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
10.5%, variable
Term
10 years (120 months)
Estimated maturity
January 5, 2034 (estimated, approval date plus term)
Estimated monthly payment
$6,861 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Jan 19, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
5
Business type
Corporation
NAICS
811111, General Automotive Repair
Project location
Saint Louis County, MO
SBA district office
St. Louis District Office
Congressional district
MO-02
Collateral
Yes
Guaranteed portion sold on secondary market
Not reported as sold
Revolving line of credit
No (term loan)
  • Larger than 3% of acquisition loans in General Automotive Repair on this site.
  • Average acquisition loan in General Automotive Repair: $1,353,136.
  • Average acquisition loan in Missouri: $1,584,414.

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 Missouri