Surge West Town LLC
Surge West Town LLC is a business in Chicago, Illinois, classified under NAICS 713990 for All Other Amusement and Recreation Industries. The company was financed through an SBA 504 loan in the SBA portion amount of $1,433,000, approved on February 12, 2024, through the lender Byline Bank with the certified development company SomerCor 504, Inc., and the loan is listed as associated with 6 jobs.
SBA 504 loan, approved Feb 12, 2024
$1,433,000 SBA portionCDC: SomerCor 504, Inc.25 years termApproved, not yet fundedLoan details
- SBA (CDC) portion
- $1,433,000
- Bank portion
- $2,100,000
- Estimated project size
- $3,925,556 (estimated)
- Estimated owner equity
- $392,556 (estimated, about 10% of the project)
- Bank lender
- Byline Bank, Chicago, IL
- Processing method
- Accredited Lenders Program: CDC with an expedited SBA review
- Term
- 25 years (300 months)
- Estimated maturity
- February 12, 2049 (estimated, approval date plus term)
- Loan status
- Approved, not yet funded
- Jobs supported
- 6
- Business type
- Corporation
- NAICS
- 713990, All Other Amusement and Recreation Industries
- Project location
- Cook County, IL
- SBA district office
- Illinois District Office
- Congressional district
- IL-4
- Collateral
- Yes
Estimated share of project by source
Bank 53% SBA (CDC) 37% Owner 10%
- Larger than 33% of expansion loans in All Other Amusement and Recreation Industries on this site.
- Average expansion loan in All Other Amusement and Recreation Industries: $2,189,271.
- Average expansion loan in Illinois: $2,310,827.
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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