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LG Affiliated Service, LP

San Antonio, TX · Commercial and Industrial Machinery and Equipment (except Automotive and Electronic) Repair and Maintenance · NAICS 811310

LG Affiliated Service, LP, located in San Antonio, Texas, operates in commercial and industrial machinery and equipment repair and maintenance (NAICS 811310). It was financed with an SBA 7(a) loan for a change of ownership of $746,000, provided by First-Citizens Bank & Trust Company, with approval dated June 24, 2024.

SBA 7(a) loan, change of ownership, approved Jun 24, 2024

$746,000 approvedLender: First-Citizens Bank & Trust Company10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$746,000
SBA-guaranteed amount
$559,500 (75% of the approval)
Lender
First-Citizens Bank & Trust Company, Raleigh, NC
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
10%, variable
Term
10 years (120 months)
Estimated maturity
June 24, 2034 (estimated, approval date plus term)
Estimated monthly payment
$9,858 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Jul 31, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
10
Business type
LLC or partnership
NAICS
811310, Commercial and Industrial Machinery and Equipment (except Automotive and Electronic) Repair and Maintenance
Project location
Bexar County, TX
SBA district office
San Antonio District Office
Congressional district
TX-21
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 16% of acquisition loans in Commercial and Industrial Machinery and Equipment (except Automotive and Electronic) Repair and Maintenance on this site.
  • Average acquisition loan in Commercial and Industrial Machinery and Equipment (except Automotive and Electronic) Repair and Maintenance: $1,576,060.
  • Average acquisition loan in Texas: $1,944,682.

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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