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Newton's Cleaning & Restoration LLC

Tilton, IL · Remediation Services · NAICS 562910

Newton's Cleaning & Restoration LLC, located in Tilton, Illinois, operates in remediation services (NAICS 562910). The company was financed with an SBA 7(a) loan for a change of ownership of $850,000, approved on August 12, 2024, through Byline Bank.

SBA 7(a) loan, change of ownership, approved Aug 12, 2024

$850,000 approvedLender: Byline Bank10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$850,000
SBA-guaranteed amount
$637,500 (75% of the approval)
Lender
Byline Bank, Chicago, IL
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
11.25%, variable
Term
10 years (120 months)
Estimated maturity
August 12, 2034 (estimated, approval date plus term)
Estimated monthly payment
$11,829 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Aug 23, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
11
Business type
Corporation
NAICS
562910, Remediation Services
Project location
Vermilion County, IL
SBA district office
Illinois District Office
Congressional district
IL-15
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 26% of acquisition loans in Remediation Services on this site.
  • Average acquisition loan in Remediation Services: $1,662,217.
  • 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