Eileens Bakery Corp
Eileens Bakery Corp is located in West Seneca, NY, and the SBA lists its industry as Retail Bakeries. It was approved for an SBA 7(a) loan of $625,000 for a change of ownership on April 30, 2024.
SBA 7(a) loan, change of ownership, approved Apr 30, 2024
- Gross approval
- $625,000
- SBA-guaranteed amount
- $468,750 (75% of the approval)
- Lender
- Northwest Bank, Warren, PA
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10.5%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- April 30, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $8,433 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- May 3, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 14
- Business type
- Corporation
- NAICS
- 311811, Retail Bakeries
- Project location
- Erie County, NY
- SBA district office
- Buffalo District Office
- Congressional district
- NY-26
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 22% of acquisition loans in Retail Bakeries on this site.
- Average acquisition loan in Retail Bakeries: $1,252,861.
- Average acquisition loan in New York: $1,771,512.
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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