Pirtek Charlotte
Pirtek Charlotte is a business in Charlotte, NC, in the commercial and industrial machinery and equipment repair and maintenance industry (except automotive and electronic), NAICS 811310, and is a franchise. It was financed with an SBA 7(a) loan for a change of ownership of $500,000, approved on October 29, 2024 by Live Oak Banking Company.
SBA 7(a) loan, change of ownership, approved Oct 29, 2024
- Gross approval
- $500,000
- SBA-guaranteed amount
- $375,000 (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
- 10.49%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- October 29, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $6,744 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Nov 1, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 12
- Business type
- Corporation
- NAICS
- 811310, Commercial and Industrial Machinery and Equipment (except Automotive and Electronic) Repair and Maintenance
- Project location
- Mecklenburg County, NC
- SBA district office
- North Carolina District Office
- Congressional district
- NC-09
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Commercial and Industrial Machinery and Equipment (except Automotive and Electronic) Repair and Maintenance: $1,576,060.
- Average acquisition loan in North Carolina: $1,952,444.
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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