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SBA 7(a)Paid in Full

MAG Motor Company

WALNUT CREEK, CANewtek Small Business Finance, Inc.Used Car Dealers · NAICS 441120
APPROVAL AMOUNT
$2,052,000
PROGRAM
SBA 7(a)
9 years term
APPROVED
2021-09-09
6% rate
JOBS SUPPORTED
10
Borrower-reported

Estimated monthly payment

MONTHLY
$24,134
AT RATE
6%
recorded at approval
TOTAL INTEREST
$626,830
over 9.3 yrs
TOTAL REPAID
$2,678,830

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
WALNUT CREEK, CA 94596
INDUSTRY
Used Car Dealers · NAICS 441120
BUSINESS STRUCTURE
Corporation
LOAN TERM
9 years
INITIAL INTEREST RATE
6%
LOAN STATUS
Paid in Full
CONGRESSIONAL DIST.
11
WALNUT CREEK, CA 94596

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