BJ Grand Salons, LLC
BJ Grand Salons, LLC is a beauty salon business in Springfield, Illinois, classified under NAICS code 812112 (Beauty Salons). The company was financed with an SBA 7(a) loan for a change of ownership of $1,432,500, approved by United Community Bank on October 14, 2023.
SBA 7(a) loan, change of ownership, approved Oct 14, 2023
$1,432,500 approvedLender: United Community Bank15 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $1,432,500
- SBA-guaranteed amount
- $1,074,375 (75% of the approval)
- Lender
- United Community Bank, Chatham, IL
- Processing method
- Standard 7(a): the lender submits the application for SBA review
- Initial interest rate
- 7%, fixed
- Term
- 15 years (180 months)
- Estimated maturity
- October 14, 2038 (estimated, approval date plus term)
- Estimated monthly payment
- $12,876 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Nov 28, 2023
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 141
- Business type
- Corporation
- NAICS
- 812112, Beauty Salons
- Project location
- Sangamon County, IL
- SBA district office
- Illinois District Office
- Congressional district
- IL-13
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 80% of acquisition loans in Beauty Salons on this site.
- Average acquisition loan in Beauty Salons: $1,125,702.
- 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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