Grace Motorcars LLC
Grace Motorcars LLC is a new car dealer in West Covina, California, classified under NAICS 441110 (New Car Dealers). The company was financed with an SBA 7(a) loan for a change of ownership of $5 million, approved by Live Oak Banking Company on May 14, 2025.
SBA 7(a) loan, change of ownership, approved May 14, 2025
$5,000,000 approvedLender: Live Oak Banking Company10 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
- 9%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- May 14, 2035 (estimated, approval date plus term)
- Estimated monthly payment
- $63,338 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jun 12, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 57
- Business type
- Corporation
- NAICS
- 441110, New Car Dealers
- Franchise
- Audi Dealer Agreement
- Project location
- Los Angeles County, CA
- SBA district office
- Los Angeles District Office
- Congressional district
- CA-32
- 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 California: $1,688,228.
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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