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SBA 7(a)Paid in Full

Allendale Steakhouse Inc.

ALLENDALE, NJFirst Merchants BankFull-Service Restaurants · NAICS 722511
APPROVAL AMOUNT
$773,000
PROGRAM
SBA 7(a)
25 years term
APPROVED
2024-01-25
11% rate
JOBS SUPPORTED
8
Borrower-reported

Estimated monthly payment

MONTHLY
$7,576
AT RATE
11%
recorded at approval
TOTAL INTEREST
$1,499,882
over 25 yrs
TOTAL REPAID
$2,272,882

Computed from this loan's recorded initial rate and term. Most 7(a) rates are variable and reset with the base rate, so the real schedule drifts from this, and SBA guaranty fees and closing costs are not included. Adjust the assumptions.

Loan details & location

LOCATION
ALLENDALE, NJ 07401
INDUSTRY
Full-Service Restaurants · NAICS 722511
BUSINESS STRUCTURE
Corporation
LOAN TERM
25 years
INITIAL INTEREST RATE
11%
LOAN STATUS
Paid in Full
CONGRESSIONAL DIST.
05
ALLENDALE, NJ 07401

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