Glam Karaoke
Glam Karaoke is located in Annandale, VA, and the SBA lists its industry as Limited-Service Restaurants. It was approved for an SBA 7(a) loan of $622,000 for a change of ownership on May 19, 2025.
SBA 7(a) loan, change of ownership, approved May 19, 2025
- Gross approval
- $622,000
- SBA-guaranteed amount
- $466,500 (75% of the approval)
- Lender
- Centerstone SBA Lending, Inc., Los Angeles, CA
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 9.5%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- May 19, 2035 (estimated, approval date plus term)
- Estimated monthly payment
- $8,049 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- May 29, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 8
- Business type
- Corporation
- NAICS
- 722513, Limited-Service Restaurants
- Project location
- Fairfax County, VA
- SBA district office
- Washington District Office
- Congressional district
- VA-08
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 20% of acquisition loans in Limited-Service Restaurants on this site.
- Average acquisition loan in Limited-Service Restaurants: $1,303,660.
- Average acquisition loan in Virginia: $1,860,760.
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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