Rasco Mason Contractors, Inc.
Rasco Mason Contractors, Inc. is located in Grayslake, IL, and the SBA lists its industry as Masonry Contractors. It was approved for an SBA 7(a) loan of $900,000 for a change of ownership on August 22, 2024. This registry lists 2 loans for the company.
SBA 7(a) loan, change of ownership, approved Aug 22, 2024
- Gross approval
- $900,000
- SBA-guaranteed amount
- $675,000 (75% of the approval)
- Lender
- State Bank of the Lakes, National Association, Antioch, IL
- Processing method
- CAPLine: revolving working capital line of credit
- Initial interest rate
- 10%, variable
- Term
- 2 years (24 months)
- Estimated maturity
- August 22, 2026 (estimated, approval date plus term)
- Estimated monthly payment
- $41,530 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Sep 6, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 45
- Business type
- Corporation
- NAICS
- 238140, Masonry Contractors
- Project location
- Lake County, IL
- SBA district office
- Illinois District Office
- Congressional district
- IL-10
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- Yes
- Larger than 27% of acquisition loans in Masonry Contractors on this site.
- Average acquisition loan in Masonry Contractors: $1,856,218.
- 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.
SBA 7(a) loan, change of ownership, approved Aug 21, 2024
- Gross approval
- $990,000
- SBA-guaranteed amount
- $742,500 (75% of the approval)
- Lender
- State Bank of the Lakes, National Association, Antioch, IL
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 7.69%, fixed
- Term
- 7 years (84 months)
- Estimated maturity
- August 21, 2031 (estimated, approval date plus term)
- Estimated monthly payment
- $15,278 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Sep 6, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 45
- Business type
- Corporation
- NAICS
- 238140, Masonry Contractors
- Project location
- Lake County, IL
- SBA district office
- Illinois District Office
- Congressional district
- IL-10
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 36% of acquisition loans in Masonry Contractors on this site.
- Average acquisition loan in Masonry Contractors: $1,856,218.
- 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.
Is this your company? Claim or correct this listing. See Corrections.