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ELPA Enterprises LLC

Mooresville, NC · General Automotive Repair · NAICS 811111

ELPA Enterprises LLC is a general automotive repair business located in Mooresville, North Carolina. It was financed with an SBA 7(a) loan for a change of ownership of $1.5 million, approved by The Fidelity Bank on November 19, 2024.

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

Gross approval
$1,494,500
SBA-guaranteed amount
$1,120,875 (75% of the approval)
Lender
The Fidelity Bank, Fuquay Varina, NC
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
10.25%, variable
Term
25 years (300 months)
Estimated maturity
November 19, 2049 (estimated, approval date plus term)
Estimated monthly payment
$13,845 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Jan 2, 2025
Loan status
Status not reported (SBA exemption)
Jobs supported
7
Business type
Corporation
NAICS
811111, General Automotive Repair
Project location
Iredell County, NC
SBA district office
North Carolina District Office
Congressional district
NC-10
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)

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 North Carolina