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Midwest Biodiesel Products, guarantors accused of failing to pay loan

By Michael Abella | Nov 4, 2016

EDWARDSVILLE — A financing company is suing a borrower and guarantors for allegedly failing to pay on an equipment loan.

Ascentium Capital LLC filed a complaint on Oct. 27 in Madison County Circuit Court against Midwest Biodiesel Products LLC and guarantors Terry Zintel, George Sprague and St. Louis Biofuels LLC, alleging they violated an equipment financing agreement.

According to the complaint, the plaintiff alleges that on June 19, 2015, it provided an equipment loan to Midwest in the amount of $131,750, which was guaranteed by Zintel, Sprague and St. Louis Biofuel. To date, the amount of $128,668.87 remains unpaid, the suit alleges.

The plaintiff alleges the defendants failed to make required payments when due.

The plaintiff requests a trial by jury and seeks judgment against the defendants in the amount of $128,668.87, plus continuing interest, attorneys' fees, costs and for any other relief the court deems proper. It is represented by Jeffrey B. Rose of Lowis & Gellen LLP in Chicago and Cherrie McDonald of Greensfelder, Heinker & Gale PC in Swansea.

Madison County Circuit Court case number 16-L-1487

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