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Joe's Automotive Inc.

Kankakee, IL · General Automotive Repair · NAICS 811111

Joe's Automotive Inc., located in Kankakee, Illinois, operates in the General Automotive Repair industry (NAICS 811111). The business was financed with an SBA 7(a) loan for a change of ownership totaling $1,509,500, approved on November 20, 2025, by The Huntington National Bank.

SBA 7(a) loan, change of ownership, approved Nov 20, 2025

$1,509,500 approvedLender: The Huntington National Bank14 years termStatus not reported (SBA exemption)Loan details
Gross approval
$1,509,500
SBA-guaranteed amount
$1,132,125 (75% of the approval)
Lender
The Huntington National Bank, Columbus, OH
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
8.75%, fixed
Term
14 years (168 months)
Estimated maturity
November 20, 2039 (estimated, approval date plus term)
Estimated monthly payment
$15,614 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Jan 29, 2026
Loan status
Status not reported (SBA exemption)
Jobs supported
11
Business type
Corporation
NAICS
811111, General Automotive Repair
Project location
Kankakee County, IL
SBA district office
Illinois District Office
Congressional district
IL-02
Collateral
Yes
Guaranteed portion sold on secondary market
Not reported as sold
Revolving line of credit
No (term loan)
  • Larger than 71% of acquisition loans in General Automotive Repair on this site.
  • Average acquisition loan in General Automotive Repair: $1,353,136.
  • 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