Main Street Registry

The Colorado Automotive Network Corporation

Wheat Ridge, CO · General Automotive Repair · NAICS 811111

The Colorado Automotive Network Corporation is a general automotive repair business located in Wheat Ridge, Colorado. It was financed with an SBA 7(a) loan for a change of ownership of $1,450,000, approved on March 19, 2024, through Live Oak Banking Company.

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

$1,450,000 approvedLender: Live Oak Banking Company25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$1,450,000
SBA-guaranteed amount
$1,087,500 (75% of the approval)
Lender
Live Oak Banking Company, Wilmington, NC
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
9.75%, fixed
Term
25 years (300 months)
Estimated maturity
March 19, 2049 (estimated, approval date plus term)
Estimated monthly payment
$12,921 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Mar 28, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
5
Business type
Corporation
NAICS
811111, General Automotive Repair
Project location
Jefferson County, CO
SBA district office
Colorado District Office
Congressional district
CO-01
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 66% of acquisition loans in General Automotive Repair on this site.
  • Average acquisition loan in General Automotive Repair: $1,353,136.
  • Average acquisition loan in Colorado: $1,608,658.

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 Colorado