Railco Repair Opco LLC
Railco Repair Opco LLC, located in Carterville, Illinois, operates in the support activities for rail transportation industry (NAICS 488210). The company was financed with an SBA 7(a) loan for a change of ownership of $3.28 million, approved by The Fidelity Bank on January 16, 2024, with the loan reported as creating or retaining 14 jobs.
SBA 7(a) loan, change of ownership, approved Jan 16, 2024
$3,280,000 approvedLender: The Fidelity Bank306 months termPaid in fullLoan details
- Gross approval
- $3,280,000
- SBA-guaranteed amount
- $2,460,000 (75% of the approval)
- Lender
- The Fidelity Bank, Fuquay Varina, NC
- Processing method
- Standard 7(a): the lender submits the application for SBA review
- Initial interest rate
- 10.75%, variable
- Term
- 25 years, 6 months (306 months)
- Estimated maturity
- July 16, 2049 (estimated, approval date plus term)
- Estimated monthly payment
- $31,435 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jan 25, 2024
- Loan status
- Paid in full
- Jobs supported
- 14
- Business type
- Corporation
- NAICS
- 488210, Support Activities for Rail Transportation
- Project location
- Williamson County, IL
- SBA district office
- Illinois District Office
- Congressional district
- IL-12
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Support Activities for Rail Transportation: $3,280,000.
- 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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