Chicago Motor Coach, Inc.
Chicago Motor Coach, Inc. is a business in Northbrook, Illinois, in the charter bus industry (NAICS 485510). The company was financed with an SBA 7(a) loan for a change of ownership of $945,400, approved in March 2024 by U.S. Bank, National Association, with 27 jobs reported.
SBA 7(a) loan, change of ownership, approved Mar 23, 2024
$945,400 approvedLender: U.S. Bank, National Association10 years termCommitted, not fully disbursedLoan details
- Gross approval
- $945,400
- SBA-guaranteed amount
- $709,050 (75% of the approval)
- Lender
- U.S. Bank, National Association, Cincinnati, OH
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 9.5%, fixed
- Term
- 10 years (120 months)
- Estimated maturity
- March 23, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $12,233 Estimated payment at the initial rate over the full term; actual terms vary.
- Loan status
- Committed, not fully disbursed
- Jobs supported
- 27
- Business type
- Corporation
- NAICS
- 485510, Charter Bus Industry
- Project location
- Cook County, IL
- SBA district office
- Illinois District Office
- Congressional district
- IL-09
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Charter Bus Industry: $1,671,650.
- 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
- BJ's Transportation Inc, Chicago