H.G transmission of ws LLC
H.G transmission of ws LLC, located in Winston Salem, NC, operates in the specialized automotive repair industry (NAICS 811114). The company was financed with an SBA 7(a) loan for a change of ownership, in the amount of $735,000, approved by The Fidelity Bank on May 23, 2024.
SBA 7(a) loan, change of ownership, approved May 23, 2024
$735,000 approvedLender: The Fidelity Bank10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $735,000
- SBA-guaranteed amount
- $551,250 (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
- 10 years (120 months)
- Estimated maturity
- May 23, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $9,815 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
- Forsyth 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)
- 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 GSO L.L.C., Greensboro