Accu-Labs, Inc.
Accu-Labs, Inc. is a business in Chicago, IL, in the All Other Miscellaneous Chemical Product and Preparation Manufacturing industry (NAICS 325998). The company was financed with an SBA 7(a) loan for a change of ownership, with two loans totaling $3,635,500 from The Huntington National Bank approved on December 6, 2024, and 18 jobs reported.
SBA 7(a) loan, change of ownership, approved Dec 6, 2024
$3,135,500 approvedLender: The Huntington National Bank10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $3,135,500
- SBA-guaranteed amount
- $2,351,625 (75% of the approval)
- Lender
- The Huntington National Bank, Columbus, OH
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 7.75%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- December 6, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $37,629 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Dec 20, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 18
- Business type
- Corporation
- NAICS
- 325998, All Other Miscellaneous Chemical Product and Preparation Manufacturing
- Project location
- Cook County, IL
- SBA district office
- Illinois District Office
- Congressional district
- IL-03
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Average acquisition loan in All Other Miscellaneous Chemical Product and Preparation Manufacturing: $2,000,667.
- 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 Dec 6, 2024
$500,000 approvedLender: The Huntington National Bank10 years termCommitted, not fully disbursedLoan details
- Gross approval
- $500,000
- SBA-guaranteed amount
- $250,000 (50% of the approval)
- Lender
- The Huntington National Bank, Columbus, OH
- Processing method
- SBA Express: streamlined process using the lender's own procedures, with a smaller SBA guarantee
- Initial interest rate
- 7.75%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- December 6, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $6,001 Estimated payment at the initial rate over the full term; actual terms vary.
- Loan status
- Committed, not fully disbursed
- Jobs supported
- 18
- Business type
- Corporation
- NAICS
- 325998, All Other Miscellaneous Chemical Product and Preparation Manufacturing
- Project location
- Cook County, IL
- SBA district office
- Illinois District Office
- Congressional district
- IL-03
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- Yes
- Average acquisition loan in All Other Miscellaneous Chemical Product and Preparation Manufacturing: $2,000,667.
- 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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