Main Street Registry

Club Continental, Inc.

Chicago, IL · Drinking Places (Alcoholic Beverages) · NAICS 722410

Club Continental, Inc. is a drinking place in Chicago, Illinois, classified under the industry description Drinking Places (Alcoholic Beverages). The business was financed with an SBA 7(a) loan for a change of ownership in the amount of $1,622,300, approved through OceanFirst Bank, National Association, with an approval date of February 28, 2025.

SBA 7(a) loan, change of ownership, approved Feb 28, 2025

$1,622,300 approvedLender: OceanFirst Bank, National Association25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$1,622,300
SBA-guaranteed amount
$1,216,725 (75% of the approval)
Lender
OceanFirst Bank, National Association, Toms River, NJ
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
10%, variable
Term
25 years (300 months)
Estimated maturity
February 28, 2050 (estimated, approval date plus term)
Estimated monthly payment
$14,742 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
May 29, 2025
Loan status
Status not reported (SBA exemption)
Jobs supported
10
Business type
Corporation
NAICS
722410, Drinking Places (Alcoholic Beverages)
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 82% of acquisition loans in Drinking Places (Alcoholic Beverages) on this site.
  • Average acquisition loan in Drinking Places (Alcoholic Beverages): $1,078,366.
  • 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