Oem Industrial Solutions LLC
Oem Industrial Solutions LLC is a business in Montgomery, IL, in the industrial design services industry (NAICS 541420). The company was financed with an SBA 7(a) loan for a change of ownership of $1,027,000, approved on March 20, 2024 by The Huntington National Bank.
SBA 7(a) loan, change of ownership, approved Mar 20, 2024
$1,027,000 approvedLender: The Huntington National Bank10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $1,027,000
- SBA-guaranteed amount
- $770,250 (75% of the approval)
- Lender
- The Huntington National Bank, Columbus, OH
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10.75%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- March 20, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $14,002 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Apr 1, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 3
- Business type
- Corporation
- NAICS
- 541420, Industrial Design Services
- Project location
- Kane County, IL
- SBA district office
- Illinois District Office
- Congressional district
- IL-11
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Industrial Design Services: $1,063,500.
- 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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