Main Street Registry

7000 InLegacy, LLC

Plano, TX · Full-Service Restaurants · NAICS 722511

7000 InLegacy, LLC is a full-service restaurant business located in Plano, Texas, in the Full-Service Restaurants industry (NAICS 722511). The business was financed with an SBA 7(a) loan for a change of ownership of $700,000, approved on June 6, 2024 by American Continental Bank.

SBA 7(a) loan, change of ownership, approved Jun 6, 2024

$700,000 approvedLender: American Continental Bank10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$700,000
SBA-guaranteed amount
$525,000 (75% of the approval)
Lender
American Continental Bank, City of Industry, CA
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
10.25%, variable
Term
10 years (120 months)
Estimated maturity
June 6, 2034 (estimated, approval date plus term)
Estimated monthly payment
$9,348 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Jul 16, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
7
Business type
Corporation
NAICS
722511, Full-Service Restaurants
Project location
Collin County, TX
SBA district office
Dallas / Ft Worth District Office
Congressional district
TX-03
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 26% of acquisition loans in Full-Service Restaurants on this site.
  • Average acquisition loan in Full-Service Restaurants: $1,319,601.
  • Average acquisition loan in Texas: $1,944,682.

Loan amounts are the SBA approval, not a purchase price. Figures labeled estimated are derived on this site and are not published by the SBA.

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Same industry in Texas