Main Street Registry

Babcock, Wickham & MI

Inverness, IL · Limited-Service Restaurants · NAICS 722513

Babcock, Wickham & MI, located in Inverness, Illinois, operates in the limited-service restaurants industry (NAICS 722513) and is a Jimmy John's franchise. The business was financed with an SBA 7(a) loan for a change of ownership totaling $1.45 million, approved by Live Oak Banking Company with a date of July 30, 2026.

SBA 7(a) loan, change of ownership, approved Jul 30, 2026

$1,450,000 approvedLender: Live Oak Banking Company10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$1,450,000
SBA-guaranteed amount
$1,087,500 (75% of the approval)
Lender
Live Oak Banking Company, Wilmington, NC
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
7.72%, variable
Term
10 years (120 months)
Estimated maturity
July 30, 2036 (estimated, approval date plus term)
Estimated monthly payment
$17,379 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Aug 12, 2026
Loan status
Status not reported (SBA exemption)
Jobs supported
2
Business type
Corporation
NAICS
722513, Limited-Service Restaurants
Franchise
Jimmy John's
Project location
Cook County, IL
SBA district office
Illinois District Office
Congressional district
IL-06
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 72% of acquisition loans in Limited-Service Restaurants on this site.
  • Average acquisition loan in Limited-Service Restaurants: $1,303,660.
  • Average acquisition loan in Illinois: $1,796,780.

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 Illinois