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Florida Tire of Powerline Road

Fort Lauderdale, FL · General Automotive Repair · NAICS 811111

Florida Tire of Powerline Road is a general automotive repair business in Fort Lauderdale, Florida, classified under NAICS 811111. The company was financed with an SBA 7(a) loan for a change of ownership, with a loan amount of $1,900,000 from SouthState Bank, National Association, approved on December 27, 2024.

SBA 7(a) loan, change of ownership, approved Dec 27, 2024

$1,900,000 approvedLender: SouthState Bank, National Association25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$1,900,000
SBA-guaranteed amount
$1,425,000 (75% of the approval)
Lender
SouthState Bank, National Association, Winter Haven, FL
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
9.75%, variable
Term
25 years (300 months)
Estimated maturity
December 27, 2049 (estimated, approval date plus term)
Estimated monthly payment
$16,932 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Jan 31, 2025
Loan status
Status not reported (SBA exemption)
Jobs supported
8
Business type
Corporation
NAICS
811111, General Automotive Repair
Project location
Broward County, FL
SBA district office
South Florida District Office
Congressional district
FL-20
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 82% of acquisition loans in General Automotive Repair on this site.
  • Average acquisition loan in General Automotive Repair: $1,353,136.
  • 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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