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Countryside Auto Repair LLC

Downingtown, PA · General Automotive Repair · NAICS 811111

Countryside Auto Repair LLC is a general automotive repair business in Downingtown, Pennsylvania, classified under NAICS 811111 (General Automotive Repair). The company was financed with an SBA 7(a) loan for a change of ownership in the amount of $525,000, approved on March 8, 2024, through Meridian Bank.

SBA 7(a) loan, change of ownership, approved Mar 8, 2024

$525,000 approvedLender: Meridian Bank10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$525,000
SBA-guaranteed amount
$393,750 (75% of the approval)
Lender
Meridian Bank, Malvern, PA
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
10.75%, variable
Term
10 years (120 months)
Estimated maturity
March 8, 2034 (estimated, approval date plus term)
Estimated monthly payment
$7,158 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Apr 10, 2025
Loan status
Status not reported (SBA exemption)
Jobs supported
4
Business type
Corporation
NAICS
811111, General Automotive Repair
Project location
Chester County, PA
SBA district office
Philadelphia District Office
Congressional district
PA-06
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 4% of acquisition loans in General Automotive Repair on this site.
  • Average acquisition loan in General Automotive Repair: $1,353,136.
  • Average acquisition loan in Pennsylvania: $1,636,965.

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 Pennsylvania