Grand Motorwerks LLC
Grand Motorwerks LLC, located in Dwight, Illinois, operates in the used car dealers industry (NAICS 441120). The company was financed with an SBA 7(a) loan for a change of ownership, with an approved amount of $3,757,000 from Celtic Bank Corporation, approved on February 15, 2024.
SBA 7(a) loan, change of ownership, approved Feb 15, 2024
$3,757,000 approvedLender: Celtic Bank Corporation16 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $3,757,000
- SBA-guaranteed amount
- $2,817,750 (75% of the approval)
- Lender
- Celtic Bank Corporation, Salt Lake City, UT
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10%, variable
- Term
- 16 years (192 months)
- Estimated maturity
- February 15, 2040 (estimated, approval date plus term)
- Estimated monthly payment
- $39,295 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Mar 27, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 12
- Business type
- Corporation
- NAICS
- 441120, Used Car Dealers
- Franchise
- Ford Motor Company Dealer Sales and Service Agreement
- Project location
- Livingston County, IL
- SBA district office
- Illinois District Office
- Congressional district
- IL-16
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 80% of acquisition loans in Used Car Dealers on this site.
- Average acquisition loan in Used Car Dealers: $2,484,440.
- Average acquisition loan in Illinois: $1,796,780.
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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Same industry in Illinois
- Smart Choice Auto Sales, Inc., Godfrey
- Gold Coast Motors, Inc., St. Charles
- Elite Motors, Inc., Gurnee