North South Truck Stop
North South Truck Stop is a gasoline station with convenience store business located in Robards, KY, classified under NAICS code 457110. The business was financed with an SBA 7(a) loan for a change of ownership, in the amount of $960,000, approved by Open Bank on January 29, 2025.
SBA 7(a) loan, change of ownership, approved Jan 29, 2025
$960,000 approvedLender: Open Bank25 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $960,000
- SBA-guaranteed amount
- $720,000 (75% of the approval)
- Lender
- Open Bank, Los Angeles, CA
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 8.75%, variable
- Term
- 25 years (300 months)
- Estimated maturity
- January 29, 2050 (estimated, approval date plus term)
- Estimated monthly payment
- $7,893 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Mar 21, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 6
- Business type
- Corporation
- NAICS
- 457110, Gasoline Stations with Convenience Stores
- Project location
- Henderson County, KY
- SBA district office
- Kentucky District Office
- Congressional district
- KY-01
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 20% 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 Kentucky: $1,988,993.
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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