Bank sues in attempt to collect $110K-plus on business loan

A company is being sued after it allegedly failed to repay a loan on time.

First Midwest Bank filed suit July 8 in Cook County Circuit Court against Virmac Services Inc. and Virgil McIntosh, alleging breach of promissory note and breach of guaranty.

According to the complaint, First Midwest loaned Virmac $116,522 on May 27, 2013 and the defendants were to begin monthly payments  on Oct. 27, with the final payment to be made May 27, 2014.

Virmac defaulted on the loan, however, and as of July 1, owes a total of $110,434.54, plus interest, the suit alleges.

The plaintiff is seeking damages in the amount of $110,434.54, plus per diem interest of $33.19, and costs. It is represented by Chicago attorney Robert Gomberg of Gomberg, Sharfman, Gold & Ostler P.C.

Cook County Circuit Court Case No. 2014L007159.

This is a report on a civil lawsuit filed in Cook County Circuit Court. The details in this report come from an original complaint filed by a plaintiff. Please note, a complaint represents an accusation by a private individual, not the government. It is not an indication of guilt and it represents only one side of the story.