Fastsigns of Gurnee
Fastsigns of Gurnee, located in Waukegan, Illinois, operates in the sign manufacturing industry (NAICS 339950). The business was financed with an SBA 7(a) loan for a change of ownership, with a loan amount of $1.6 million approved on July 8, 2024, through Live Oak Banking Company.
SBA 7(a) loan, change of ownership, approved Jul 8, 2024
$1,600,000 approvedLender: Live Oak Banking Company10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $1,600,000
- SBA-guaranteed amount
- $1,200,000 (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
- 10%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- July 8, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $21,144 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Aug 1, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 6
- Business type
- Corporation
- NAICS
- 339950, Sign Manufacturing
- Project location
- Lake County, IL
- SBA district office
- Illinois District Office
- Congressional district
- IL-10
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 61% of acquisition loans in Sign Manufacturing on this site.
- Average acquisition loan in Sign Manufacturing: $1,489,948.
- 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
- Central Decal Company, Inc., Burr Ridge
- Signs Rockford LLC, Rockford