Knudtsen Foothills II, LLC
Knudtsen Foothills II, LLC is a new car dealer located in Spokane, Washington. The company was financed with an SBA 7(a) loan for a change of ownership, in the amount of $3 million, approved on November 30, 2023 through Glacier Bank.
SBA 7(a) loan, change of ownership, approved Nov 30, 2023
$3,000,000 approvedLender: Glacier Bank10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $3,000,000
- SBA-guaranteed amount
- $2,250,000 (75% of the approval)
- Lender
- Glacier Bank, Kalispell, MT
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 8.5%, fixed
- Term
- 10 years (120 months)
- Estimated maturity
- November 30, 2033 (estimated, approval date plus term)
- Estimated monthly payment
- $37,196 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Feb 14, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 21
- Business type
- Corporation
- NAICS
- 441110, New Car Dealers
- Project location
- Spokane County, WA
- SBA district office
- Seattle District Office
- Congressional district
- WA-05
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 35% of acquisition loans in New Car Dealers on this site.
- Average acquisition loan in New Car Dealers: $3,540,626.
- Average acquisition loan in Washington: $1,784,595.
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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