Evanston Motors, LLC
Evanston Motors, LLC is a new car dealer located in Evanston, Wyoming (NAICS 441110). The business was financed with an SBA 7(a) loan for a change of ownership of $5 million, approved on August 15, 2024 by Live Oak Banking Company.
SBA 7(a) loan, change of ownership, approved Aug 15, 2024
$5,000,000 approvedLender: Live Oak Banking Company25 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $5,000,000
- SBA-guaranteed amount
- $3,750,000 (75% of the approval)
- Lender
- Live Oak Banking Company, Wilmington, NC
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10%, variable
- Term
- 25 years (300 months)
- Estimated maturity
- August 15, 2049 (estimated, approval date plus term)
- Estimated monthly payment
- $45,435 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Sep 12, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 26
- Business type
- Corporation
- NAICS
- 441110, New Car Dealers
- Project location
- Uinta County, WY
- SBA district office
- Wyoming District Office
- Congressional district
- WY-01
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 57% of acquisition loans in New Car Dealers on this site.
- Average acquisition loan in New Car Dealers: $3,540,626.
- Average acquisition loan in Wyoming: $1,759,358.
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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