Founders Bagel Corp.
Founders Bagel Corp. is located in Brooklyn, NY, and the SBA lists its industry as Baked Goods Retailers. It was approved for an SBA 7(a) loan of $1,129,500 for a change of ownership on April 25, 2025.
SBA 7(a) loan, change of ownership, approved Apr 25, 2025
- Gross approval
- $1,129,500
- SBA-guaranteed amount
- $847,125 (75% of the approval)
- Lender
- Hanover Community Bank, Mineola, NY
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 9.75%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- April 25, 2035 (estimated, approval date plus term)
- Estimated monthly payment
- $14,770 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jul 30, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 5
- Business type
- Corporation
- NAICS
- 445291, Baked Goods Retailers
- Project location
- Kings County, NY
- SBA district office
- New York District Office
- Congressional district
- NY-07
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 48% of acquisition loans in Baked Goods Retailers on this site.
- Average acquisition loan in Baked Goods Retailers: $1,301,117.
- 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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Same industry in New York
- The Bagels, Garden City
- La Bagel Delight Court Inc, Brooklyn