Rockwash Car Wash LLC
Rockwash Car Wash LLC, located in Rockwall, Texas, operates in the car washes industry (NAICS 811192). The business was financed with an SBA 7(a) loan for a change of ownership of $600,000, approved on October 15, 2023 by Open Bank.
SBA 7(a) loan, change of ownership, approved Oct 15, 2023
$600,000 approvedLender: Open Bank25 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $600,000
- SBA-guaranteed amount
- $450,000 (75% of the approval)
- Lender
- Open Bank, Los Angeles, CA
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 9.75%, variable
- Term
- 25 years (300 months)
- Estimated maturity
- October 15, 2048 (estimated, approval date plus term)
- Estimated monthly payment
- $5,347 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Oct 25, 2023
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 1
- Business type
- Corporation
- NAICS
- 811192, Car Washes
- Project location
- Rockwall County, TX
- SBA district office
- Dallas / Ft Worth District Office
- Congressional district
- TX-04
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 12% of acquisition loans in Car Washes on this site.
- Average acquisition loan in Car Washes: $2,047,274.
- Average acquisition loan in Texas: $1,944,682.
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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