Nagpal Auto Aw LLC
Nagpal Auto Aw LLC is a general automotive repair business in Smithfield, Rhode Island, classified under NAICS code 811111. The company was financed with an SBA 7(a) loan for a change of ownership, with a loan amount of $960,000 from Live Oak Banking Company, approved on June 18, 2025.
SBA 7(a) loan, change of ownership, approved Jun 18, 2025
$960,000 approvedLender: Live Oak Banking Company25 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $960,000
- SBA-guaranteed amount
- $720,000 (75% of the approval)
- Lender
- Live Oak Banking Company, Wilmington, NC
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 9%, variable
- Term
- 25 years (300 months)
- Estimated maturity
- June 18, 2050 (estimated, approval date plus term)
- Estimated monthly payment
- $8,056 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jul 3, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 6
- Business type
- Corporation
- NAICS
- 811111, General Automotive Repair
- Project location
- Providence County, RI
- SBA district office
- Rhode Island District Office
- Congressional district
- RI-01
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 41% of acquisition loans in General Automotive Repair on this site.
- Average acquisition loan in General Automotive Repair: $1,353,136.
- Average acquisition loan in Rhode Island: $1,739,073.
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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