Expert Diesel
Expert Diesel is located in Davie, FL, and the SBA lists its industry as Specialized Automotive Repair. It was approved for an SBA 7(a) loan of $3,300,000 for a change of ownership on May 17, 2024.
SBA 7(a) loan, change of ownership, approved May 17, 2024
- Gross approval
- $3,300,000
- SBA-guaranteed amount
- $2,079,000 (63% of the approval)
- Lender
- Live Oak Banking Company, Wilmington, NC
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10.5%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- May 17, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $44,529 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- May 31, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 21
- Business type
- Corporation
- NAICS
- 811114, Specialized Automotive Repair
- Project location
- Broward County, FL
- SBA district office
- South Florida District Office
- Congressional district
- FL-23
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 95% of acquisition loans in Specialized Automotive Repair on this site.
- Average acquisition loan in Specialized Automotive Repair: $1,800,258.
- 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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