Keith Young's Steakhouse
Keith Young's Steakhouse is a full-service restaurant in Madisonville, Louisiana, operating under NAICS code 722511. The business was financed with an SBA 7(a) loan for a change of ownership of $3,465,000, approved by Pathward National Association on January 24, 2024.
SBA 7(a) loan, change of ownership, approved Jan 24, 2024
$3,465,000 approvedLender: Pathward National Association25 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $3,465,000
- SBA-guaranteed amount
- $2,598,750 (75% of the approval)
- Lender
- Pathward National Association, Sioux Falls, SD
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 9.5%, fixed
- Term
- 25 years (300 months)
- Estimated maturity
- January 24, 2049 (estimated, approval date plus term)
- Estimated monthly payment
- $30,274 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Mar 1, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 4
- Business type
- Corporation
- NAICS
- 722511, Full-Service Restaurants
- Project location
- Saint Tammany County, LA
- SBA district office
- Louisiana District Office
- Congressional district
- LA-01
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 95% of acquisition loans in Full-Service Restaurants on this site.
- Average acquisition loan in Full-Service Restaurants: $1,319,601.
- Average acquisition loan in Louisiana: $1,702,056.
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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