Harry F. Long, Inc.
Harry F. Long, Inc. is a freight transportation arrangement business located in Wood Dale, Illinois, classified under NAICS code 488510. The company was financed with an SBA 7(a) loan for a change of ownership in the amount of $3 million, approved on December 13, 2024, by Live Oak Banking Company.
SBA 7(a) loan, change of ownership, approved Dec 13, 2024
$3,000,000 approvedLender: Live Oak Banking Company10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $3,000,000
- SBA-guaranteed amount
- $2,250,000 (75% of the approval)
- Lender
- Live Oak Banking Company, Wilmington, NC
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 9.5%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- December 13, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $38,819 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Dec 31, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 15
- Business type
- Corporation
- NAICS
- 488510, Freight Transportation Arrangement
- Project location
- Dupage 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)
- Larger than 65% of acquisition loans in Freight Transportation Arrangement on this site.
- Average acquisition loan in Freight Transportation Arrangement: $2,442,765.
- 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
- Lucerne Vega Holdings LLC, Wood Dale