Pier 6 Auto Services, Inc.
Pier 6 Auto Services, Inc. is located in Hewlett, NY, and the SBA lists its industry as General Automotive Repair. It was approved for an SBA 7(a) loan of $1,255,000 for a change of ownership on September 27, 2024.
SBA 7(a) loan, change of ownership, approved Sep 27, 2024
- Gross approval
- $1,255,000
- SBA-guaranteed amount
- $941,250 (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
- 9.5%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- September 27, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $16,239 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jan 17, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 8
- Business type
- Corporation
- NAICS
- 811111, General Automotive Repair
- Project location
- Nassau County, NY
- SBA district office
- New York District Office
- Congressional district
- NY-04
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 57% of acquisition loans in General Automotive Repair on this site.
- Average acquisition loan in General Automotive Repair: $1,353,136.
- Average acquisition loan in New York: $1,771,512.
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 New York
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