Midwest Carpet and Flooring, Inc
Midwest Carpet and Flooring, Inc, located in Chicago, Illinois, operates in home furnishing merchant wholesaling (NAICS 423220). The company was financed with an SBA 7(a) loan for a change of ownership totaling $2,658,300, approved on June 26, 2026, by JPMorgan Chase Bank, National Association.
SBA 7(a) loan, change of ownership, approved Jun 26, 2026
$2,658,300 approvedLender: JPMorgan Chase Bank, National Association10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $2,658,300
- SBA-guaranteed amount
- $1,993,725 (75% of the approval)
- Lender
- JPMorgan Chase Bank, National Association, Columbus, OH
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 7.5%, fixed
- Term
- 10 years (120 months)
- Estimated maturity
- June 26, 2036 (estimated, approval date plus term)
- Estimated monthly payment
- $31,554 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jul 10, 2026
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 16
- Business type
- Corporation
- NAICS
- 423220, Home Furnishing Merchant Wholesalers
- Project location
- Cook County, IL
- SBA district office
- Illinois District Office
- Congressional district
- IL-01
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Home Furnishing Merchant Wholesalers: $2,247,817.
- 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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