Fox Valley Volkswagen of Crystal Lake
Fox Valley Volkswagen of Crystal Lake is located in Crystal Lake, Illinois, and is classified under New Car Dealers (NAICS 441110). The business financed real estate or equipment through an SBA 504 loan of $2,540,000, approved on February 24, 2024, with Byline Bank as the lender and Small Business Growth Corporation as the certified development company.
SBA 504 loan, approved Feb 24, 2024
$2,540,000 SBA portionCDC: Small Business Growth Corporation25 years termStatus not reported (SBA exemption)Loan details
- SBA (CDC) portion
- $2,540,000
- Bank portion
- $6,967,000
- Estimated project size
- $10,563,333 (estimated)
- Estimated owner equity
- $1,056,333 (estimated, about 10% of the project)
- Bank lender
- Byline Bank, Chicago, IL
- Processing method
- Accredited Lenders Program: CDC with an expedited SBA review
- Term
- 25 years (300 months)
- Estimated maturity
- February 24, 2049 (estimated, approval date plus term)
- First disbursement
- Jun 12, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 50
- Business type
- Corporation
- NAICS
- 441110, New Car Dealers
- Franchise
- Volkswagen Dealer Agreement
- Project location
- Mchenry County, IL
- SBA district office
- Illinois District Office
- Congressional district
- IL-1
- Collateral
- Yes
Estimated share of project by source
Bank 66% SBA (CDC) 24% Owner 10%
- Larger than 47% of expansion loans in New Car Dealers on this site.
- Average expansion loan in New Car Dealers: $3,138,111.
- Average expansion loan in Illinois: $2,310,827.
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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