Main Street Registry

8187 South Mason LLC

Newaygo, MI · Full-Service Restaurants · NAICS 722511

8187 South Mason LLC, located in Newaygo, Michigan, operates in the full-service restaurants industry (NAICS 722511). The business was financed with an SBA 7(a) loan for a change of ownership of $964,800, approved on January 31, 2025 by The Huntington National Bank, with 23 jobs reported.

SBA 7(a) loan, change of ownership, approved Jan 31, 2025

$964,800 approvedLender: The Huntington National Bank15 years termStatus not reported (SBA exemption)Loan details
Gross approval
$964,800
SBA-guaranteed amount
$723,600 (75% of the approval)
Lender
The Huntington National Bank, Columbus, OH
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
7.9%, fixed
Term
15 years (180 months)
Estimated maturity
January 31, 2040 (estimated, approval date plus term)
Estimated monthly payment
$9,165 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Feb 26, 2025
Loan status
Status not reported (SBA exemption)
Jobs supported
23
Business type
Corporation
NAICS
722511, Full-Service Restaurants
Project location
Newaygo County, MI
SBA district office
Michigan District Office
Congressional district
MI-02
Collateral
Yes
Guaranteed portion sold on secondary market
Not reported as sold
Revolving line of credit
No (term loan)
  • Larger than 48% of acquisition loans in Full-Service Restaurants on this site.
  • Average acquisition loan in Full-Service Restaurants: $1,319,601.
  • Average acquisition loan in Michigan: $1,645,728.

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 Michigan