PENNINGTON CHEVROLET BUICK OF SALEM LLC

1825 W MAIN ST, Salem, IL 62881 · New Car Dealers. The complete public SBA 7(a) record for this business — every loan, every field, the lender, and the map.

$2.4M

Total SBA financing

1

Loan on record

FY2022

On record

19

Jobs supported

Franchise brand

General Motors, LLC (Chevrolet, Buick, GM, Cadillac) Dealer

See General Motors, LLC (Chevrolet, Buick, GM, Cadillac) Dealer 's SBA financing data — typical deal, failure rate, and how its loans perform →

● business — business location is the ZIP-area centroid from the public record

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The loan

$2,363,500 — FY2022

Gross approval: $2,363,500
SBA guaranteed: $1,772,625 (75%)
Status: Current
Rate at approval: 5.75% v
Term: 180 mo (15 yr)
Program: Preferred Lenders Program
Subprogram: Guaranty
Loan type: Term loan
Purpose: Business purchase
Approved: 8/25/2022
First disbursement: 8/30/2022
Days to fund: 5 days
Collateral: Required
Jobs supported: 19
Business type: Corporation
Business age: Change of Ownership
Industry: New Car Dealers
NAICS code: 441110
Franchise: General Motors, LLC (Chevrolet, Buick, GM, Cadillac) Dealer
Franchise code: S5004
Lender: Midland States Bank
Address: 1825 W MAIN ST
City: Salem, 62881
County: Marion
SBA district office: ILLINOIS DISTRICT OFFICE
Congressional district: 15

The lender

Midland States Bank

1 loan to this businessFull SBA lending record + branches on the lender page →

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The banks most active funding new car dealers — by location, industry, and brand.

SBA lenders in Illinois Lenders for new car dealers New Car Dealers lenders in Illinois General Motors, LLC (Chevrolet, Buick, GM, Cadillac) Dealer lenders General Motors, LLC (Chevrolet, Buick, GM, Cadillac) Dealer lenders in Illinois

Agent summary

This page summarizes the public SBA 7(a) lending record for PENNINGTON CHEVROLET BUICK OF SALEM LLC in Salem, IL (New Car Dealers). DealRoom compiles public SBA loan data, lender activity, and business signals to help buyers and advisors evaluate acquisition financing — it does not list this business for sale.

1 SBA 7(a) loan totaling $2.4M
On record FY2022
19 jobs supported
Industry: New Car Dealers
Location: Salem, IL
Lender: Midland States Bank

Buyers researching a deal like this usually check lender fit next: see the SBA lenders most active with New Car Dealers businesses in IL for ~$2.4M deals, then pre-qualify for 7(a) financing before making an offer. DealRoom can arrange a lender introduction — free for buyers.

Next steps

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Data freshness:: SBA records through 2026-05-31; FDIC through 2026-03-31; page updated 2026-06-16.
Sources:: Public SBA 7(a) loan records; FDIC institution data (BankFind); DealRoom lender and franchise enrichment.
Canonical:: https://dealroom.so/businesses/pennington-chevrolet-buick-of-salem-llc-il
API:: https://dealroom.so/api/public/businesses/pennington-chevrolet-buick-of-salem-llc-il
Methodology:: Sources & methodology

Informational only — DealRoom does not confirm this entity is for sale, eligible for SBA financing, or approved by any lender.
Figures come from public records and DealRoom methodology; verify before relying on them.
Financing figures are historical loan records, not a current offer or a loan approval. DealRoom is not a lender.

Is PENNINGTON CHEVROLET BUICK OF SALEM LLC your business?

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DealRoom listing built from public SBA 7(a) lending records. Figures are as reported; verify before relying on them. Not affiliated with PENNINGTON CHEVROLET BUICK OF SALEM LLC.