Mel's Auto Glass Inc.
Mel's Auto Glass Inc. is an automotive glass replacement shop located in Cincinnati, Ohio. The business was financed with an SBA 7(a) loan for a change of ownership, approved on March 25, 2024, in the amount of $3,914,600 through The Huntington National Bank.
SBA 7(a) loan, change of ownership, approved Mar 25, 2024
$3,914,600 approvedLender: The Huntington National Bank10 years termPaid in fullLoan details
- Gross approval
- $3,914,600
- SBA-guaranteed amount
- $2,935,950 (75% of the approval)
- Lender
- The Huntington National Bank, Columbus, OH
- 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 25, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $52,275 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Apr 19, 2024
- Loan status
- Paid in full
- Jobs supported
- 2
- Business type
- Corporation
- NAICS
- 811122, Automotive Glass Replacement Shops
- Project location
- Hamilton County, OH
- SBA district office
- Columbus District Office
- Congressional district
- OH-01
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 92% of acquisition loans in Automotive Glass Replacement Shops on this site.
- Average acquisition loan in Automotive Glass Replacement Shops: $1,116,585.
- Average acquisition loan in Ohio: $1,840,340.
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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