Main Street Registry

Blackaholic II, Inc

Willow Street, PA · Full-Service Restaurants · NAICS 722511

Blackaholic II, Inc, located in Willow Street, Pennsylvania, operates in the full-service restaurants industry (NAICS 722511). The company was financed with an SBA 7(a) loan for a change of ownership totaling $510,000, approved on May 20, 2024, through lender VelocitySBA, LLC.

SBA 7(a) loan, change of ownership, approved May 20, 2024

$510,000 approvedLender: VelocitySBA, LLC10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$510,000
SBA-guaranteed amount
$382,500 (75% of the approval)
Lender
VelocitySBA, LLC, Irving, TX
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
11.25%, variable
Term
10 years (120 months)
Estimated maturity
May 20, 2034 (estimated, approval date plus term)
Estimated monthly payment
$7,098 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Jun 14, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
64
Business type
Corporation
NAICS
722511, Full-Service Restaurants
Project location
Lancaster County, PA
SBA district office
Philadelphia District Office
Congressional district
PA-11
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 5% of acquisition loans in Full-Service Restaurants on this site.
  • Average acquisition loan in Full-Service Restaurants: $1,319,601.
  • Average acquisition loan in Pennsylvania: $1,636,965.

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 Pennsylvania