SO IL Tile & Carpet Supply, Inc.
SO IL Tile & Carpet Supply, Inc. is a floor covering retailer in Mount Vernon, Illinois, classified under the industry Floor Covering Retailers. The business was financed with an SBA 7(a) loan for a change of ownership of $1,575,000, approved on February 20, 2026 by Peoples National Bank National Association.
SBA 7(a) loan, change of ownership, approved Feb 20, 2026
$1,575,000 approvedLender: Peoples National Bank National Association16 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $1,575,000
- SBA-guaranteed amount
- $1,181,250 (75% of the approval)
- Lender
- Peoples National Bank National Association, Mcleansboro, IL
- Processing method
- Standard 7(a): the lender submits the application for SBA review
- Initial interest rate
- 8.25%, variable
- Term
- 16 years (192 months)
- Estimated maturity
- February 20, 2042 (estimated, approval date plus term)
- Estimated monthly payment
- $14,799 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Feb 27, 2026
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 10
- Business type
- Corporation
- NAICS
- 449121, Floor Covering Retailers
- Project location
- Jefferson County, IL
- SBA district office
- Illinois District Office
- Congressional district
- IL-12
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 44% of acquisition loans in Floor Covering Retailers on this site.
- Average acquisition loan in Floor Covering Retailers: $2,205,596.
- 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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