Mechanical and Industrial Steel Services, Inc.
Mechanical and Industrial Steel Services, Inc. is a structural steel and precast concrete contractor located in Channahon, Illinois. The company financed real estate or equipment through an SBA 504 loan with a total project amount of $3 million, approved May 9, 2025, through PeopleFirst Bank and the Small Business Growth Corporation, with 26 jobs reported.
SBA 504 loan, approved May 9, 2025
$2,807,000 SBA portionCDC: Small Business Growth Corporation25 years termApproved, not yet fundedLoan details
- SBA (CDC) portion
- $2,807,000
- Bank portion
- $3,000,000
- Estimated project size
- $6,452,222 (estimated)
- Estimated owner equity
- $645,222 (estimated, about 10% of the project)
- Bank lender
- PeopleFirst Bank, Joliet, IL
- Processing method
- Accredited Lenders Program: CDC with an expedited SBA review
- Term
- 25 years (300 months)
- Estimated maturity
- May 9, 2050 (estimated, approval date plus term)
- Loan status
- Approved, not yet funded
- Jobs supported
- 26
- Business type
- Corporation
- NAICS
- 238120, Structural Steel and Precast Concrete Contractors
- Project location
- Will County, IL
- SBA district office
- Illinois District Office
- Congressional district
- IL-11
- Collateral
- Yes
Estimated share of project by source
Bank 46% SBA (CDC) 44% Owner 10%
- Average expansion loan in Structural Steel and Precast Concrete Contractors: $2,672,667.
- 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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