H.G. Transmission of GSO L.L.C.
H.G. Transmission of GSO L.L.C. is a specialized automotive repair business in Greensboro, North Carolina, classified under NAICS code 811114, and operates as a Cottman Transmission and Total Auto Care franchise. The business was financed with an SBA 7(a) loan for a change of ownership totaling $1,958,000, approved on May 24, 2024 by The Fidelity Bank.
SBA 7(a) loan, change of ownership, approved May 24, 2024
$1,958,000 approvedLender: The Fidelity Bank16 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $1,958,000
- SBA-guaranteed amount
- $1,468,500 (75% of the approval)
- Lender
- The Fidelity Bank, Fuquay Varina, NC
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10.25%, variable
- Term
- 16 years (192 months)
- Estimated maturity
- May 24, 2040 (estimated, approval date plus term)
- Estimated monthly payment
- $20,785 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jun 10, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 6
- Business type
- Corporation
- NAICS
- 811114, Specialized Automotive Repair
- Franchise
- Cottman Transmission and Total Auto Care
- Project location
- Guilford County, NC
- SBA district office
- North Carolina District Office
- Congressional district
- NC-06
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 63% of acquisition loans in Specialized Automotive Repair on this site.
- Average acquisition loan in Specialized Automotive Repair: $1,800,258.
- Average acquisition loan in North Carolina: $1,952,444.
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 North Carolina
- H.G transmission of ws LLC, Winston Salem