Main Street Registry

Route 12 Dogs 1, LLC

Richmond, IL · Limited-Service Restaurants · NAICS 722513

Route 12 Dogs 1, LLC is a limited-service restaurant business in Richmond, Illinois, in the category of limited-service restaurants. The company was financed with an SBA 7(a) loan for a change of ownership, in the amount of $557,100, approved on January 23, 2024 by lender VelocitySBA, LLC. The business operates under a Dog n Suds license agreement.

SBA 7(a) loan, change of ownership, approved Jan 23, 2024

$557,100 approvedLender: VelocitySBA, LLC25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$557,100
SBA-guaranteed amount
$417,825 (75% of the approval)
Lender
VelocitySBA, LLC, Irving, TX
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
11.25%, variable
Term
25 years (300 months)
Estimated maturity
January 23, 2049 (estimated, approval date plus term)
Estimated monthly payment
$5,561 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Jan 31, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
2
Business type
Corporation
NAICS
722513, Limited-Service Restaurants
Franchise
Dog n Suds - License Agreement
Project location
Mchenry County, IL
SBA district office
Illinois District Office
Congressional district
IL-14
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 13% of acquisition loans in Limited-Service Restaurants on this site.
  • Average acquisition loan in Limited-Service Restaurants: $1,303,660.
  • 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