Midwest Septic and Drain Services LLC
Midwest Septic and Drain Services LLC, located in Wilmington, Illinois, operates in the septic tank and related services industry (NAICS 562991). The company was financed with an SBA 7(a) loan for a change of ownership of $584,000, approved on March 10, 2026, through VelocitySBA, LLC.
SBA 7(a) loan, change of ownership, approved Mar 10, 2026
$584,000 approvedLender: VelocitySBA, LLC10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $584,000
- SBA-guaranteed amount
- $438,000 (75% of the approval)
- Lender
- VelocitySBA, LLC, Irving, TX
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 9.5%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- March 10, 2036 (estimated, approval date plus term)
- Estimated monthly payment
- $7,557 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Apr 17, 2026
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 8
- Business type
- Corporation
- NAICS
- 562991, Septic Tank and Related Services
- Project location
- Will County, IL
- SBA district office
- Illinois District Office
- Congressional district
- IL-02
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Septic Tank and Related Services: $1,540,362.
- 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
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