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Barzel & Steel Auto LLC

Chicago, IL · Automotive Body, Paint, and Interior Repair and Maintenance · NAICS 811121

Barzel & Steel Auto LLC, located in Chicago, Illinois, operates in automotive body, paint, and interior repair and maintenance. The company was financed with an SBA 7(a) loan for a change of ownership totaling $1,241,000, approved on August 22, 2025, through the lender VelocitySBA, LLC.

SBA 7(a) loan, change of ownership, approved Aug 22, 2025

$1,241,000 approvedLender: VelocitySBA, LLC25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$1,241,000
SBA-guaranteed amount
$930,750 (75% of the approval)
Lender
VelocitySBA, LLC, Irving, TX
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
9.75%, variable
Term
25 years (300 months)
Estimated maturity
August 22, 2050 (estimated, approval date plus term)
Estimated monthly payment
$11,059 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Oct 9, 2025
Loan status
Status not reported (SBA exemption)
Jobs supported
11
Business type
Corporation
NAICS
811121, Automotive Body, Paint, and Interior Repair and Maintenance
Project location
Cook County, IL
SBA district office
Illinois District Office
Congressional district
IL-04
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 41% of acquisition loans in Automotive Body, Paint, and Interior Repair and Maintenance on this site.
  • Average acquisition loan in Automotive Body, Paint, and Interior Repair and Maintenance: $1,738,412.
  • 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