JM Treat, LLC
JM Treat, LLC is a limited-service restaurant located in Biddeford, Maine, classified under NAICS code 722513. The business was financed with an SBA 7(a) loan for a change of ownership of $1,037,800, approved on July 22, 2024 by T Bank, National Association.
SBA 7(a) loan, change of ownership, approved Jul 22, 2024
$1,037,800 approvedLender: T Bank, National Association25 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $1,037,800
- SBA-guaranteed amount
- $778,350 (75% of the approval)
- Lender
- T Bank, National Association, Dallas, TX
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10%, variable
- Term
- 25 years (300 months)
- Estimated maturity
- July 22, 2049 (estimated, approval date plus term)
- Estimated monthly payment
- $9,430 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Aug 14, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 20
- Business type
- Corporation
- NAICS
- 722513, Limited-Service Restaurants
- Franchise
- Dairy Queen - Store Agreement (American Dairy Queen)
- Project location
- York County, ME
- SBA district office
- Maine District Office
- Congressional district
- ME-01
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 52% of acquisition loans in Limited-Service Restaurants on this site.
- Average acquisition loan in Limited-Service Restaurants: $1,303,660.
- Average acquisition loan in Maine: $1,448,582.
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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