Aeromax Industries, Inc.
Aeromax Industries, Inc. is located in Lake Barrington, Illinois, and operates in the toy and hobby goods and supplies merchant wholesalers industry (NAICS 423920). The company was financed with an SBA 7(a) loan for a change of ownership of $500,000, approved on December 7, 2023, by Barrington Bank & Trust Company, National Association.
SBA 7(a) loan, change of ownership, approved Dec 7, 2023
$500,000 approvedLender: Barrington Bank & Trust Company, National Association10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $500,000
- SBA-guaranteed amount
- $375,000 (75% of the approval)
- Lender
- Barrington Bank & Trust Company, National Association, Barrington, IL
- Processing method
- Standard 7(a): the lender submits the application for SBA review
- Initial interest rate
- 7.75%, fixed
- Term
- 10 years (120 months)
- Estimated maturity
- December 7, 2033 (estimated, approval date plus term)
- Estimated monthly payment
- $6,001 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Dec 13, 2023
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 9
- Business type
- Corporation
- NAICS
- 423920, Toy and Hobby Goods and Supplies Merchant Wholesalers
- Project location
- Lake County, IL
- SBA district office
- Illinois District Office
- Congressional district
- IL-06
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Toy and Hobby Goods and Supplies Merchant Wholesalers: $1,836,125.
- 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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