Fb Autobody Inc.
Fb Autobody Inc. is located in North Brunswick, NJ, and the SBA lists its industry as Automotive Body, Paint, and Interior Repair and Maintenance. It was approved for an SBA 7(a) loan of $860,000 for a change of ownership on April 13, 2024.
SBA 7(a) loan, change of ownership, approved Apr 13, 2024
- Gross approval
- $860,000
- SBA-guaranteed amount
- $645,000 (75% of the approval)
- Lender
- Hanover Community Bank, Mineola, NY
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 11%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- April 13, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $11,847 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- May 3, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 12
- Business type
- Corporation
- NAICS
- 811121, Automotive Body, Paint, and Interior Repair and Maintenance
- Franchise
- Maaco
- Project location
- Middlesex County, NJ
- SBA district office
- New Jersey District Office
- Congressional district
- NJ-06
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 25% of acquisition loans in Automotive Body, Paint, and Interior Repair and Maintenance on this site.
- Average acquisition loan in Automotive Body, Paint, and Interior Repair and Maintenance: $1,738,412.
- Average acquisition loan in New Jersey: $1,626,307.
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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