MillCreek Holdings, LLC
MillCreek Holdings, LLC, located in Old Mill Creek, Illinois, is an industrial and personal service paper merchant wholesaler (NAICS 424130). The company was financed with an SBA 7(a) loan for a change of ownership of $2.55 million, approved on August 16, 2024, through Busey Bank.
SBA 7(a) loan, change of ownership, approved Aug 16, 2024
$2,550,000 approvedLender: Busey Bank13 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $2,550,000
- SBA-guaranteed amount
- $1,912,500 (75% of the approval)
- Lender
- Busey Bank, Champaign, IL
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10.25%, variable
- Term
- 13 years (156 months)
- Estimated maturity
- August 16, 2037 (estimated, approval date plus term)
- Estimated monthly payment
- $29,647 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Aug 28, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 5
- Business type
- Corporation
- NAICS
- 424130, Industrial and Personal Service Paper Merchant Wholesalers
- Project location
- Lake County, IL
- SBA district office
- Illinois District Office
- Congressional district
- IL-10
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Industrial and Personal Service Paper Merchant Wholesalers: $2,550,000.
- 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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