Home Works, Inc.
Home Works, Inc. is a residential remodeling business in Springfield, Illinois, in the residential remodelers industry (NAICS 236118). The company was financed with an SBA 7(a) loan for a change of ownership totaling $2,035,000, approved on June 12, 2026, through VelocitySBA, LLC. The business operates as a DreamMaker Bath & Kitchen Worldwide franchise.
SBA 7(a) loan, change of ownership, approved Jun 12, 2026
$2,035,000 approvedLender: VelocitySBA, LLC10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $2,035,000
- SBA-guaranteed amount
- $1,526,250 (75% of the approval)
- Lender
- VelocitySBA, LLC, Irving, TX
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 8.75%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- June 12, 2036 (estimated, approval date plus term)
- Estimated monthly payment
- $25,504 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jun 30, 2026
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 11
- Business type
- Corporation
- NAICS
- 236118, Residential Remodelers
- Franchise
- DreamMaker Bath & Kitchen Worldwide
- Project location
- Sangamon 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)
- Larger than 70% of acquisition loans in Residential Remodelers on this site.
- Average acquisition loan in Residential Remodelers: $1,623,835.
- 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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