Main Street Registry

Euro Tech Automotive, LLC

Holland, MI · General Automotive Repair · NAICS 811111

Euro Tech Automotive, LLC, located in Holland, Michigan, operates in General Automotive Repair. The business was financed with an SBA 7(a) loan for a change of ownership of $973,000 from The Huntington National Bank, with approval on December 29, 2023.

SBA 7(a) loan, change of ownership, approved Dec 29, 2023

$973,000 approvedLender: The Huntington National Bank10 years termPaid in fullLoan details
Gross approval
$973,000
SBA-guaranteed amount
$729,750 (75% of the approval)
Lender
The Huntington National Bank, Columbus, OH
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
10.25%, variable
Term
10 years (120 months)
Estimated maturity
December 29, 2033 (estimated, approval date plus term)
Estimated monthly payment
$12,993 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Jan 5, 2024
Loan status
Paid in full
Jobs supported
10
Business type
Corporation
NAICS
811111, General Automotive Repair
Project location
Ottawa County, MI
SBA district office
Michigan District Office
Congressional district
MI-02
Collateral
Yes
Guaranteed portion sold on secondary market
Not reported as sold
Revolving line of credit
No (term loan)
  • Larger than 44% of acquisition loans in General Automotive Repair on this site.
  • Average acquisition loan in General Automotive Repair: $1,353,136.
  • Average acquisition loan in Michigan: $1,645,728.

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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