Main Street Registry

GN2 Food Arena Inc

Irvine, CA · Full-Service Restaurants · NAICS 722511

GN2 Food Arena Inc, located in Irvine, California, 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 $725,000, approved on March 22, 2024, by Bank of Hope.

SBA 7(a) loan, change of ownership, approved Mar 22, 2024

$725,000 approvedLender: Bank of Hope52 months termPaid in fullLoan details
Gross approval
$725,000
SBA-guaranteed amount
$543,750 (75% of the approval)
Lender
Bank of Hope, Los Angeles, CA
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
10%, variable
Term
4 years, 4 months (52 months)
Estimated maturity
July 22, 2028 (estimated, approval date plus term)
Estimated monthly payment
$17,238 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Jun 12, 2024
Loan status
Paid in full
Jobs supported
12
Business type
Corporation
NAICS
722511, Full-Service Restaurants
Project location
Orange County, CA
SBA district office
Santa Ana District Office
Congressional district
CA-45
Collateral
Yes
Guaranteed portion sold on secondary market
Not reported as sold
Revolving line of credit
No (term loan)
  • Larger than 30% of acquisition loans in Full-Service Restaurants on this site.
  • Average acquisition loan in Full-Service Restaurants: $1,319,601.
  • Average acquisition loan in California: $1,688,228.

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 California