Berry Stokes Rapid City L.L.C.
Berry Stokes Rapid City L.L.C. is located in Rapid City, SD, and the SBA lists its industry as Baked Goods Retailers. It was approved for an SBA 7(a) loan of $500,000 for a change of ownership on January 27, 2024.
SBA 7(a) loan, change of ownership, approved Jan 27, 2024
- Gross approval
- $500,000
- SBA-guaranteed amount
- $375,000 (75% of the approval)
- Lender
- Cache Valley Bank, Logan, UT
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 9.5%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- January 27, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $6,470 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Feb 1, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 27
- Business type
- Corporation
- NAICS
- 445291, Baked Goods Retailers
- Project location
- Pennington County, SD
- SBA district office
- South Dakota District Office
- Congressional district
- SD-00
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Baked Goods Retailers: $1,301,117.
- Average acquisition loan in South Dakota: $1,631,547.
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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