Main Street Registry

Tom and Jerry's Auto, Inc.

Chicago, IL · General Automotive Repair · NAICS 811111

Tom and Jerry's Auto, Inc. is a general automotive repair business in Chicago, Illinois, classified under NAICS code 811111. The company was financed with an SBA 7(a) loan for a change of ownership of $2,588,000, approved on February 1, 2024, by Barrington Bank & Trust Company, National Association.

SBA 7(a) loan, change of ownership, approved Feb 1, 2024

Gross approval
$2,588,000
SBA-guaranteed amount
$1,941,000 (75% of the approval)
Lender
Barrington Bank & Trust Company, National Association, Barrington, IL
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
6.91%, fixed
Term
25 years (300 months)
Estimated maturity
February 1, 2049 (estimated, approval date plus term)
Estimated monthly payment
$18,143 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Mar 8, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
20
Business type
Corporation
NAICS
811111, General Automotive Repair
Project location
Cook County, IL
SBA district office
Illinois District Office
Congressional district
IL-05
Collateral
Yes
Guaranteed portion sold on secondary market
Not reported as sold
Revolving line of credit
No (term loan)

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