Crabby's Restaurant Group, Inc.
Crabby's Restaurant Group, Inc. is located in Maple Shade, NJ, and the SBA lists its industry as Fish and Seafood Retailers. It was approved for an SBA 7(a) loan of $1,485,000 for a change of ownership on October 12, 2023.
SBA 7(a) loan, change of ownership, approved Oct 12, 2023
- Gross approval
- $1,485,000
- SBA-guaranteed amount
- $1,113,750 (75% of the approval)
- Lender
- Univest Bank and Trust Co, Souderton, PA
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 11%, variable
- Term
- 8 years, 5 months (101 months)
- Estimated maturity
- March 12, 2032 (estimated, approval date plus term)
- Estimated monthly payment
- $22,607 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Dec 14, 2023
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 20
- Business type
- Corporation
- NAICS
- 445250, Fish and Seafood Retailers
- Project location
- Burlington County, NJ
- SBA district office
- New Jersey District Office
- Congressional district
- NJ-01
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Fish and Seafood Retailers: $1,149,460.
- Average acquisition loan in New Jersey: $1,626,307.
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 New Jersey
- EW Fish & Chip LLC, Jersey City