Mehar Kar LLC
Mehar Kar LLC is located in Lake Havasu, AZ, and the SBA lists its industry as Gasoline Stations with Convenience Stores. It was approved for an SBA 7(a) loan of $3,921,000 for a change of ownership on August 26, 2024.
SBA 7(a) loan, change of ownership, approved Aug 26, 2024
- Gross approval
- $3,921,000
- SBA-guaranteed amount
- $2,940,750 (75% of the approval)
- Lender
- Readycap Lending, LLC, Berkeley Heights, NJ
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10%, variable
- Term
- 25 years (300 months)
- Estimated maturity
- August 26, 2049 (estimated, approval date plus term)
- Estimated monthly payment
- $35,630 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Sep 12, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 6
- Business type
- Corporation
- NAICS
- 457110, Gasoline Stations with Convenience Stores
- Project location
- Mohave County, AZ
- SBA district office
- Arizona District Office
- Congressional district
- AZ-04
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 86% of acquisition loans in Gasoline Stations with Convenience Stores on this site.
- Average acquisition loan in Gasoline Stations with Convenience Stores: $2,177,273.
- Average acquisition loan in Arizona: $1,690,811.
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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