Village 1, LLC
Village 1, LLC is a home centers business in Geneseo, Illinois, classified under NAICS 444110. The company was financed with an SBA 7(a) loan for a change of ownership of $1,999,800, approved on December 19, 2024, by T Bank, National Association.
SBA 7(a) loan, change of ownership, approved Dec 19, 2024
$1,999,800 approvedLender: T Bank, National Association10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $1,999,800
- SBA-guaranteed amount
- $1,499,850 (75% of the approval)
- Lender
- T Bank, National Association, Dallas, TX
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 9.25%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- December 19, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $25,604 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jan 21, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 37
- Business type
- Corporation
- NAICS
- 444110, Home Centers
- Project location
- Henry County, IL
- SBA district office
- Illinois District Office
- Congressional district
- IL-17
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Home Centers: $1,524,271.
- 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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