Johnson & Jewell Inc.
Johnson & Jewell Inc. is an insurance agency and brokerage located in Freeport, Illinois. The business was financed with an SBA 7(a) loan for a change of ownership totaling $1.1 million, approved on May 20, 2025 by First Bank of the Lake.
SBA 7(a) loan, change of ownership, approved May 20, 2025
$1,102,000 approvedLender: First Bank of the Lake10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $1,102,000
- SBA-guaranteed amount
- $826,500 (75% of the approval)
- Lender
- First Bank of the Lake, Osage Beach, MO
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 9.75%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- May 20, 2035 (estimated, approval date plus term)
- Estimated monthly payment
- $14,411 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Oct 10, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 4
- Business type
- Corporation
- NAICS
- 524210, Insurance Agencies and Brokerages
- Project location
- Stephenson County, IL
- SBA district office
- Illinois District Office
- Congressional district
- IL-17
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 49% of acquisition loans in Insurance Agencies and Brokerages on this site.
- Average acquisition loan in Insurance Agencies and Brokerages: $1,528,335.
- 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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