Main Street Registry

Ding Hospitality LLC

New Bern, NC · Full-Service Restaurants · NAICS 722511

Ding Hospitality LLC, based in New Bern, North Carolina, 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 $3,182,000, approved by First-Citizens Bank & Trust Company on March 20, 2024.

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

$3,182,000 approvedLender: First-Citizens Bank & Trust Company25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$3,182,000
SBA-guaranteed amount
$2,386,500 (75% of the approval)
Lender
First-Citizens Bank & Trust Company, Raleigh, NC
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
11.5%, variable
Term
25 years (300 months)
Estimated maturity
March 20, 2049 (estimated, approval date plus term)
Estimated monthly payment
$32,344 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Jun 20, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
48
Business type
Corporation
NAICS
722511, Full-Service Restaurants
Project location
Craven County, NC
SBA district office
North Carolina District Office
Congressional district
NC-03
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 94% of acquisition loans in Full-Service Restaurants on this site.
  • Average acquisition loan in Full-Service Restaurants: $1,319,601.
  • Average acquisition loan in North Carolina: $1,952,444.

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 North Carolina