Lenherr Auto Sales
Lenherr Auto Sales is located in Wilmington, NC, and the SBA lists its industry as Used Car Dealers. It was approved for an SBA 7(a) loan of $1,343,000 for a change of ownership on March 4, 2025.
SBA 7(a) loan, change of ownership, approved Mar 4, 2025
- Gross approval
- $1,343,000
- SBA-guaranteed amount
- $1,007,250 (75% of the approval)
- Lender
- First Bank, Southern Pines, 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
- March 4, 2035 (estimated, approval date plus term)
- Estimated monthly payment
- $17,934 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Mar 20, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 16
- Business type
- Corporation
- NAICS
- 441120, Used Car Dealers
- Project location
- New Hanover County, NC
- SBA district office
- North Carolina District Office
- Congressional district
- NC-07
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 20% of acquisition loans in Used Car Dealers on this site.
- Average acquisition loan in Used Car Dealers: $2,484,440.
- 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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