Main Street Registry

Patriots Bar and Grill, Inc.

South Elgin, IL · Full-Service Restaurants · NAICS 722511

Patriots Bar and Grill, Inc. is a full-service restaurant in South Elgin, Illinois. The company was financed with an SBA 7(a) loan for a change of ownership of $933,900, approved on June 4, 2025, through Old National Bank.

SBA 7(a) loan, change of ownership, approved Jun 4, 2025

$933,900 approvedLender: Old National Bank25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$933,900
SBA-guaranteed amount
$700,425 (75% of the approval)
Lender
Old National Bank, Evansville, IN
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
7.75%, fixed
Term
25 years (300 months)
Estimated maturity
June 4, 2050 (estimated, approval date plus term)
Estimated monthly payment
$7,054 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Jun 11, 2025
Loan status
Status not reported (SBA exemption)
Jobs supported
13
Business type
Corporation
NAICS
722511, Full-Service Restaurants
Project location
Kane County, IL
SBA district office
Illinois District Office
Congressional district
IL-06
Collateral
Yes
Guaranteed portion sold on secondary market
Not reported as sold
Revolving line of credit
No (term loan)
  • Larger than 46% of acquisition loans in Full-Service Restaurants on this site.
  • Average acquisition loan in Full-Service Restaurants: $1,319,601.
  • 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