Novistas LLC
Novistas LLC is an automotive body, paint, and interior repair and maintenance business in Nashville, Tennessee, and operates as a Maaco franchise. The company was financed with an SBA 7(a) loan for a change of ownership of $537,200, approved on February 27, 2024, through The Huntington National Bank.
SBA 7(a) loan, change of ownership, approved Feb 27, 2024
$537,200 approvedLender: The Huntington National Bank10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $537,200
- SBA-guaranteed amount
- $402,900 (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%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- February 27, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $7,099 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Apr 12, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 18
- Business type
- Corporation
- NAICS
- 811121, Automotive Body, Paint, and Interior Repair and Maintenance
- Franchise
- Maaco
- Project location
- Davidson County, TN
- SBA district office
- Tennessee District Office
- Congressional district
- TN-05
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 4% of acquisition loans in Automotive Body, Paint, and Interior Repair and Maintenance on this site.
- Average acquisition loan in Automotive Body, Paint, and Interior Repair and Maintenance: $1,738,412.
- Average acquisition loan in Tennessee: $1,738,925.
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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Same industry in Tennessee
- Boruff's Auto Body and Sales Inc., Maryville