Surface Solutions Countertops of Illinois, Inc
Surface Solutions Countertops of Illinois, Inc is a business in Mokena, IL, operating in the other building finishing contractors industry. The company was financed with an SBA 7(a) loan for a change of ownership in the amount of $500,000, approved on March 19, 2024 by First Mid Bank & Trust, National Association.
SBA 7(a) loan, change of ownership, approved Mar 19, 2024
$500,000 approvedLender: First Mid Bank & Trust, National Association10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $500,000
- SBA-guaranteed amount
- $375,000 (75% of the approval)
- Lender
- First Mid Bank & Trust, National Association, Mattoon, IL
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 9.75%, fixed
- Term
- 10 years (120 months)
- Estimated maturity
- March 19, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $6,539 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Mar 27, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 7
- Business type
- Corporation
- NAICS
- 238390, Other Building Finishing Contractors
- Project location
- Will 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)
- Average acquisition loan in Other Building Finishing Contractors: $1,603,650.
- 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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