Fire Lane 7 LLC
Fire Lane 7 LLC is located in Chicago, IL, and the SBA lists its industry as Commercial and Service Industry Machinery Manufacturing. It was approved for an SBA 7(a) loan of $1,650,000 for a change of ownership on May 12, 2025.
SBA 7(a) loan, change of ownership, approved May 12, 2025
- Gross approval
- $1,650,000
- SBA-guaranteed amount
- $1,485,000 (90% of the approval)
- Lender
- Byline Bank, Chicago, IL
- Processing method
- International Trade Loan: for businesses that export or are preparing to
- Initial interest rate
- 10.25%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- May 12, 2035 (estimated, approval date plus term)
- Estimated monthly payment
- $22,034 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jun 2, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 9
- Business type
- Corporation
- NAICS
- 333310, Commercial and Service Industry Machinery Manufacturing
- Project location
- Cook County, IL
- SBA district office
- Illinois District Office
- Congressional district
- IL-05
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Commercial and Service Industry Machinery Manufacturing: $2,595,444.
- 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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