Elevator Industries Holdings LLC
Elevator Industries Holdings LLC is a commercial and industrial machinery and equipment repair and maintenance business located in Chicago, Illinois. The company was financed with an SBA 7(a) loan for a change of ownership of $2,292,000, approved on August 16, 2024, through Old Plank Trail Community Bank National Association.
SBA 7(a) loan, change of ownership, approved Aug 16, 2024
$2,292,000 approvedLender: Old Plank Trail Community Bank National Association10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $2,292,000
- SBA-guaranteed amount
- $1,719,000 (75% of the approval)
- Lender
- Old Plank Trail Community Bank National Association, Mokena, IL
- Processing method
- Standard 7(a): the lender submits the application for SBA review
- Initial interest rate
- 7.75%, fixed
- Term
- 10 years (120 months)
- Estimated maturity
- August 16, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $27,506 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Sep 23, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 14
- Business type
- Corporation
- NAICS
- 811310, Commercial and Industrial Machinery and Equipment (except Automotive and Electronic) Repair and Maintenance
- Project location
- Cook County, IL
- SBA district office
- Illinois District Office
- Congressional district
- IL-04
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 71% of acquisition loans in Commercial and Industrial Machinery and Equipment (except Automotive and Electronic) Repair and Maintenance on this site.
- Average acquisition loan in Commercial and Industrial Machinery and Equipment (except Automotive and Electronic) Repair and Maintenance: $1,576,060.
- 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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