Soft Suds Quick Detail No 2 LLC
Soft Suds Quick Detail No 2 LLC is a car wash business in Somerset, Kentucky, in the car washes industry (NAICS 811192). It was financed with an SBA 7(a) loan for a change of ownership of $640,000, approved on November 21, 2024, through Community Trust Bank, Inc.
SBA 7(a) loan, change of ownership, approved Nov 21, 2024
$640,000 approvedLender: Community Trust Bank, Inc.20 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $640,000
- SBA-guaranteed amount
- $480,000 (75% of the approval)
- Lender
- Community Trust Bank, Inc., Pikeville, KY
- Processing method
- Standard 7(a): the lender submits the application for SBA review
- Initial interest rate
- 8%, fixed
- Term
- 20 years (240 months)
- Estimated maturity
- November 21, 2044 (estimated, approval date plus term)
- Estimated monthly payment
- $5,353 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Dec 2, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 7
- Business type
- Corporation
- NAICS
- 811192, Car Washes
- Project location
- Pulaski County, KY
- SBA district office
- Kentucky District Office
- Congressional district
- KY-05
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 16% of acquisition loans in Car Washes on this site.
- Average acquisition loan in Car Washes: $2,047,274.
- 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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Same industry in Kentucky
- SCG Bowling Green KY Car Wash, LLC, Bowling Green