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Velocity Automotive Holdings Bolingbrook Il, LLC

Bolingbrook, IL · General Automotive Repair · NAICS 811111

Velocity Automotive Holdings Bolingbrook Il, LLC is a general automotive repair business located in Bolingbrook, Illinois, classified under NAICS code 811111. The company was financed with an SBA 7(a) loan for a change of ownership totaling $725,000, approved on February 20, 2025 by Live Oak Banking Company.

SBA 7(a) loan, change of ownership, approved Feb 20, 2025

$725,000 approvedLender: Live Oak Banking Company10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$725,000
SBA-guaranteed amount
$543,750 (75% of the approval)
Lender
Live Oak Banking Company, Wilmington, NC
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
9%, variable
Term
10 years (120 months)
Estimated maturity
February 20, 2035 (estimated, approval date plus term)
Estimated monthly payment
$9,184 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Feb 28, 2025
Loan status
Status not reported (SBA exemption)
Jobs supported
5
Business type
Corporation
NAICS
811111, General Automotive Repair
Project location
Will County, IL
SBA district office
Illinois District Office
Congressional district
IL-11
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 24% of acquisition loans in General Automotive Repair on this site.
  • Average acquisition loan in General Automotive Repair: $1,353,136.
  • 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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Same industry in Illinois