Main Street Registry

K's Brownstone Lounge, Inc.

Harrisburg, PA · Drinking Places (Alcoholic Beverages) · NAICS 722410

K's Brownstone Lounge, Inc. is a drinking place (alcoholic beverages) located in Harrisburg, PA, under NAICS code 722410. The company was financed with an SBA 7(a) loan for a change of ownership of $635,000, approved on November 10, 2023, through Beacon Bank and Trust.

SBA 7(a) loan, change of ownership, approved Nov 10, 2023

$635,000 approvedLender: Beacon Bank and Trust17 years termStatus not reported (SBA exemption)Loan details
Gross approval
$635,000
SBA-guaranteed amount
$476,250 (75% of the approval)
Lender
Beacon Bank and Trust, Brookline, MA
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
10.5%, variable
Term
17 years (204 months)
Estimated maturity
November 10, 2040 (estimated, approval date plus term)
Estimated monthly payment
$6,687 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Apr 30, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
8
Business type
Corporation
NAICS
722410, Drinking Places (Alcoholic Beverages)
Project location
Dauphin County, PA
SBA district office
Philadelphia District Office
Congressional district
PA-10
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 20% of acquisition loans in Drinking Places (Alcoholic Beverages) on this site.
  • Average acquisition loan in Drinking Places (Alcoholic Beverages): $1,078,366.
  • Average acquisition loan in Pennsylvania: $1,636,965.

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 Pennsylvania