Ideal Flatbush Autobody Inc.
Ideal Flatbush Autobody Inc. is an automotive body, paint, and interior repair and maintenance business located in Brooklyn, New York. The company was financed with an SBA 7(a) loan for a change of ownership, in the amount of $3,935,000, approved on February 5, 2026 by Live Oak Banking Company.
SBA 7(a) loan, change of ownership, approved Feb 5, 2026
$3,935,000 approvedLender: Live Oak Banking Company25 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $3,935,000
- SBA-guaranteed amount
- $2,675,800 (68% of the approval)
- Lender
- Live Oak Banking Company, Wilmington, NC
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 8%, variable
- Term
- 25 years (300 months)
- Estimated maturity
- February 5, 2051 (estimated, approval date plus term)
- Estimated monthly payment
- $30,371 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Feb 11, 2026
- Loan status
- Status not reported (SBA exemption)
- Business type
- Corporation
- NAICS
- 811121, Automotive Body, Paint, and Interior Repair and Maintenance
- Project location
- Kings County, NY
- SBA district office
- New York District Office
- Congressional district
- NY-08
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 92% of acquisition loans in Automotive Body, Paint, and Interior Repair and Maintenance on this site.
- Average acquisition loan in Automotive Body, Paint, and Interior Repair and Maintenance: $1,738,412.
- Average acquisition loan in New York: $1,771,512.
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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