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SBA 7(a)Active, details exempt

MeMa’s Chick’n’ Ribs L.L.C.

WILMINGTON, NCHarvest Small Business Finance, LLCFull-Service Restaurants · NAICS 722511
APPROVAL AMOUNT
$2,000,000
PROGRAM
SBA 7(a)
25 years term
APPROVED
2024-05-20
10.75% rate
JOBS SUPPORTED
6
Borrower-reported

Estimated monthly payment

MONTHLY
$19,242
AT RATE
10.75%
recorded at approval
TOTAL INTEREST
$3,772,556
over 25 yrs
TOTAL REPAID
$5,772,556

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
WILMINGTON, NC 28411
INDUSTRY
Full-Service Restaurants · NAICS 722511
BUSINESS STRUCTURE
Corporation
LOAN TERM
25 years
INITIAL INTEREST RATE
10.75%
LOAN STATUS
Active, details exempt
CONGRESSIONAL DIST.
07
WILMINGTON, NC 28411

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