Red Oak Advisors LLC
Red Oak Advisors LLC is located in Orland Park, IL, and the SBA lists its industry as All Other Specialty Trade Contractors. It was approved for an SBA 7(a) loan of $2,431,900 for a change of ownership on July 30, 2024. This registry lists 2 loans for the company.
SBA 7(a) loan, change of ownership, approved Jul 30, 2024
- Gross approval
- $2,431,900
- SBA-guaranteed amount
- $1,823,925 (75% of the approval)
- Lender
- Old National Bank, Evansville, IN
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 7.75%, fixed
- Term
- 9 years, 11 months (119 months)
- Estimated maturity
- June 30, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $29,348 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Sep 3, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 40
- Business type
- Corporation
- NAICS
- 238990, All Other Specialty Trade Contractors
- 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)
- Larger than 73% of acquisition loans in All Other Specialty Trade Contractors on this site.
- Average acquisition loan in All Other Specialty Trade Contractors: $1,899,024.
- 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.
SBA 7(a) loan, change of ownership, approved Jul 30, 2024
- Gross approval
- $500,000
- SBA-guaranteed amount
- $250,000 (50% of the approval)
- Lender
- Old National Bank, Evansville, IN
- Processing method
- SBA Express: streamlined process using the lender's own procedures, with a smaller SBA guarantee
- Initial interest rate
- 9.5%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- July 30, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $6,470 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Sep 30, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 40
- Business type
- Corporation
- NAICS
- 238990, All Other Specialty Trade Contractors
- 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
- Yes
- Average acquisition loan in All Other Specialty Trade Contractors: $1,899,024.
- 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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