Main Street Registry

Club 717 LLC

Shorewood, IL · Full-Service Restaurants · NAICS 722511

Club 717 LLC is a full-service restaurant located in Shorewood, Illinois. The business was financed with an SBA 7(a) loan for a change of ownership totaling $690,000, approved by Byline Bank on September 21, 2024. The loan reported 8 jobs.

SBA 7(a) loan, change of ownership, approved Sep 21, 2024

$690,000 approvedLender: Byline Bank25 years termCommitted, not fully disbursedLoan details
Gross approval
$690,000
SBA-guaranteed amount
$517,500 (75% of the approval)
Lender
Byline Bank, Chicago, IL
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
11.25%, variable
Term
25 years (300 months)
Estimated maturity
September 21, 2049 (estimated, approval date plus term)
Estimated monthly payment
$6,888 Estimated payment at the initial rate over the full term; actual terms vary.
Loan status
Committed, not fully disbursed
Jobs supported
8
Business type
Corporation
NAICS
722511, Full-Service Restaurants
Project location
Will County, IL
SBA district office
Illinois District Office
Congressional district
IL-11
Collateral
Yes
Guaranteed portion sold on secondary market
Not reported as sold
Revolving line of credit
No (term loan)
  • Larger than 25% of acquisition loans in Full-Service Restaurants on this site.
  • Average acquisition loan in Full-Service Restaurants: $1,319,601.
  • 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.

Is this your company? Claim or correct this listing. See Corrections.

Same industry in Illinois