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SBA 7(a)Committed, not yet disbursed

Costa Oil

GRAND RAPIDS, MIBank MichiganAutomotive Oil Change and Lubrication Shops · NAICS 811191
APPROVAL AMOUNT
$228,800
PROGRAM
SBA 7(a)
10 years term
APPROVED
2026-05-13
9.25% rate
JOBS SUPPORTED
6
Borrower-reported

Estimated monthly payment

MONTHLY
$2,929
AT RATE
9.25%
recorded at approval
TOTAL INTEREST
$122,727
over 10 yrs
TOTAL REPAID
$351,527

Computed from this loan's recorded initial rate and term. Most 7(a) rates are variable and reset with the base rate, so the real schedule drifts from this, and SBA guaranty fees and closing costs are not included. Adjust the assumptions.

Loan details & location

LOCATION
GRAND RAPIDS, MI 49525
INDUSTRY
Automotive Oil Change and Lubrication Shops · NAICS 811191
BUSINESS STRUCTURE
Corporation
LOAN TERM
10 years
INITIAL INTEREST RATE
9.25%
LOAN STATUS
Committed, not yet disbursed
CONGRESSIONAL DIST.
03
GRAND RAPIDS, MI 49525

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