Main Street Registry

Dyer Family Business, LLC

Rochester, IL · Full-Service Restaurants · NAICS 722511

Dyer Family Business, LLC is a full-service restaurant business located in Rochester, Illinois, in the full-service restaurants industry (NAICS 722511). The company was financed with an SBA 7(a) loan for a change of ownership, in the amount of $597,000, approved by Bank of Springfield on April 22, 2024.

SBA 7(a) loan, change of ownership, approved Apr 22, 2024

$597,000 approvedLender: Bank of Springfield124 months termStatus not reported (SBA exemption)Loan details
Gross approval
$597,000
SBA-guaranteed amount
$447,750 (75% of the approval)
Lender
Bank of Springfield, Springfield, IL
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
9.15%, variable
Term
10 years, 4 months (124 months)
Estimated maturity
August 22, 2034 (estimated, approval date plus term)
Estimated monthly payment
$7,461 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
May 1, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
18
Business type
Corporation
NAICS
722511, Full-Service Restaurants
Project location
Sangamon County, IL
SBA district office
Illinois District Office
Congressional district
IL-13
Collateral
Yes
Guaranteed portion sold on secondary market
Not reported as sold
Revolving line of credit
No (term loan)
  • Larger than 16% of acquisition loans in Full-Service Restaurants on this site.
  • Average acquisition loan in Full-Service Restaurants: $1,319,601.
  • 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