Main Street Registry

Maggie Elaine Jewelry

Virden, IL · Jewelry Retailers · NAICS 458310

Maggie Elaine Jewelry, located in Virden, Illinois, operates in the jewelry retail industry (NAICS 458310). The business was financed with an SBA 7(a) loan for a change of ownership, totaling $500,000, approved through Prairie State Bank and Trust on January 26, 2024.

SBA 7(a) loan, change of ownership, approved Jan 26, 2024

$500,000 approvedLender: Prairie State Bank and Trust150 months termStatus not reported (SBA exemption)Loan details
Gross approval
$500,000
SBA-guaranteed amount
$375,000 (75% of the approval)
Lender
Prairie State Bank and Trust, Springfield, IL
Processing method
Standard 7(a): the lender submits the application for SBA review
Initial interest rate
7.625%, fixed
Term
12 years, 6 months (150 months)
Estimated maturity
July 26, 2036 (estimated, approval date plus term)
Estimated monthly payment
$5,180 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Jan 31, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
3
Business type
Corporation
NAICS
458310, Jewelry Retailers
Project location
Macoupin County, IL
SBA district office
Illinois District Office
Congressional district
IL-13
Collateral
Yes
Guaranteed portion sold on secondary market
Not reported as sold
Revolving line of credit
No (term loan)
  • Average acquisition loan in Jewelry Retailers: $1,347,143.
  • 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