Swift Street Laundry and Auto Spa LLC
Swift Street Laundry and Auto Spa LLC is a coin-operated laundry and drycleaner located in Perry, Georgia. The company was financed with an SBA 7(a) loan for a change of ownership, in the amount of $750,000, approved on October 5, 2023 by The Huntington National Bank.
SBA 7(a) loan, change of ownership, approved Oct 5, 2023
$750,000 approvedLender: The Huntington National Bank25 years termPaid in fullLoan details
- Gross approval
- $750,000
- SBA-guaranteed amount
- $562,500 (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
- 10.25%, variable
- Term
- 25 years (300 months)
- Estimated maturity
- October 5, 2048 (estimated, approval date plus term)
- Estimated monthly payment
- $6,948 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Oct 13, 2023
- Loan status
- Paid in full
- Jobs supported
- 8
- Business type
- Corporation
- NAICS
- 812310, Coin-Operated Laundries and Drycleaners
- Project location
- Houston County, GA
- SBA district office
- Georgia District Office
- Congressional district
- GA-02
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 29% of acquisition loans in Coin-Operated Laundries and Drycleaners on this site.
- Average acquisition loan in Coin-Operated Laundries and Drycleaners: $1,337,074.
- Average acquisition loan in Georgia: $2,017,638.
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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