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Ellis Automotive LLC

Saint Augustine, FL · General Automotive Repair · NAICS 811111

Ellis Automotive LLC is a general automotive repair business located in Saint Augustine, Florida, classified under NAICS code 811111. The company was financed with an SBA 7(a) loan for a change of ownership of $678,000, approved by Midwest Regional Bank on October 8, 2023, with a 95-month term.

SBA 7(a) loan, change of ownership, approved Oct 8, 2023

$678,000 approvedLender: Midwest Regional Bank95 months termStatus not reported (SBA exemption)Loan details
Gross approval
$678,000
SBA-guaranteed amount
$508,500 (75% of the approval)
Lender
Midwest Regional Bank, Festus, MO
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
11.25%, variable
Term
7 years, 11 months (95 months)
Estimated maturity
September 8, 2031 (estimated, approval date plus term)
Estimated monthly payment
$10,812 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Dec 1, 2023
Loan status
Status not reported (SBA exemption)
Jobs supported
5
Business type
Corporation
NAICS
811111, General Automotive Repair
Project location
Saint Johns County, FL
SBA district office
North Florida District Office
Congressional district
FL-04
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 20% of acquisition loans in General Automotive Repair on this site.
  • Average acquisition loan in General Automotive Repair: $1,353,136.
  • Average acquisition loan in Florida: $1,808,559.

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 Florida