Den Den Korean Fried Chicken
Den Den Korean Fried Chicken is a full-service restaurant business in Providence, Rhode Island, classified under NAICS code 722511. The business financed real estate or equipment through an SBA 504 loan with an SBA portion of $2,149,000, approved in December 2023 by lender BankNewport with Ocean State Business Development Authority as the certified development company.
SBA 504 loan, approved Dec 12, 2023
$2,149,000 SBA portionCDC: Ocean State Business Development Authority25 years termStatus not reported (SBA exemption)Loan details
- SBA (CDC) portion
- $2,149,000
- Bank portion
- $2,625,000
- Estimated project size
- $5,304,444 (estimated)
- Estimated owner equity
- $530,444 (estimated, about 10% of the project)
- Bank lender
- BankNewport, Middletown, RI
- Processing method
- Accredited Lenders Program: CDC with an expedited SBA review
- Term
- 25 years (300 months)
- Estimated maturity
- December 12, 2048 (estimated, approval date plus term)
- First disbursement
- Feb 14, 2024
- Loan status
- Status not reported (SBA exemption)
- Business type
- Corporation
- NAICS
- 722511, Full-Service Restaurants
- Project location
- Providence County, RI
- SBA district office
- Rhode Island District Office
- Congressional district
- RI-1
- Collateral
- Yes
Estimated share of project by source
Bank 49% SBA (CDC) 41% Owner 10%
- Larger than 79% of expansion loans in Full-Service Restaurants on this site.
- Average expansion loan in Full-Service Restaurants: $1,813,082.
- Average expansion loan in Rhode Island: $1,662,733.
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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