The Door Doctor, Inc.
The Door Doctor, Inc. is a home and garden equipment repair and maintenance business in Bloomington, Illinois, classified under NAICS code 811411. The company was financed with an SBA 7(a) loan for a change of ownership totaling $1.31 million, approved on December 18, 2024, through Busey Bank, and the loan is reported with 13 jobs.
SBA 7(a) loan, change of ownership, approved Dec 18, 2024
$1,310,000 approvedLender: Busey Bank10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $1,310,000
- SBA-guaranteed amount
- $982,500 (75% of the approval)
- Lender
- Busey Bank, Champaign, IL
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10.25%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- December 18, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $17,494 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Feb 3, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 13
- Business type
- Corporation
- NAICS
- 811411, Home and Garden Equipment Repair and Maintenance
- Project location
- Mclean County, IL
- SBA district office
- Illinois District Office
- Congressional district
- IL-13
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Home and Garden Equipment Repair and Maintenance: $1,920,100.
- 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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