The Door Doctor, Inc.
The Door Doctor, Inc. is located in Bloomington, IL, and the SBA lists its industry as Home and Garden Equipment Repair and Maintenance. It was approved for an SBA 7(a) loan of $1,310,000 for a change of ownership on December 18, 2024.
SBA 7(a) loan, change of ownership, approved Dec 18, 2024
- Gross approval
- $1,310,000
- SBA-guaranteed amount
- $982,500 (75% of the approval)
- Lender
- Busey Bank, Champaign, IL
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10.25%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- December 18, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $17,494 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Feb 3, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 13
- Business type
- Corporation
- NAICS
- 811411, Home and Garden Equipment Repair and Maintenance
- Project location
- Mclean County, IL
- SBA district office
- Illinois District Office
- Congressional district
- IL-13
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Home and Garden Equipment Repair and Maintenance: $1,920,100.
- 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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