Custom Car Stereo of Charleston, Inc.
Custom Car Stereo of Charleston, Inc. is a business in Charleston, SC, in the Automotive Parts and Accessories Retailers industry. It was financed with an SBA 7(a) loan for a change of ownership of $3.1 million, approved on February 28, 2024 by Truliant FCU.
SBA 7(a) loan, change of ownership, approved Feb 28, 2024
$3,100,000 approvedLender: Truliant FCU10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $3,100,000
- SBA-guaranteed amount
- $2,325,000 (75% of the approval)
- Lender
- Truliant FCU, Winston-Salem, NC
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 11%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- February 28, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $42,703 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Mar 14, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 10
- Business type
- Corporation
- NAICS
- 441330, Automotive Parts and Accessories Retailers
- Project location
- Charleston County, SC
- SBA district office
- South Carolina District Office
- Congressional district
- SC-01
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 92% of acquisition loans in Automotive Parts and Accessories Retailers on this site.
- Average acquisition loan in Automotive Parts and Accessories Retailers: $1,270,623.
- 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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