Main Street Registry

LC Leland LLC

Akron, OH · Limited-Service Restaurants · NAICS 722513

LC Leland LLC, located in Akron, Ohio, operates in the limited-service restaurants industry (NAICS 722513). The company was financed with an SBA 7(a) loan for a change of ownership totaling $1,662,000, approved on September 18, 2024 by The Huntington National Bank.

SBA 7(a) loan, change of ownership, approved Sep 18, 2024

$1,662,000 approvedLender: The Huntington National Bank10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$1,662,000
SBA-guaranteed amount
$1,246,500 (75% of the approval)
Lender
The Huntington National Bank, Columbus, OH
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
11%, variable
Term
10 years (120 months)
Estimated maturity
September 18, 2034 (estimated, approval date plus term)
Estimated monthly payment
$22,894 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Oct 1, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
15
Business type
Corporation
NAICS
722513, Limited-Service Restaurants
Franchise
Little Caesars
Project location
Summit County, OH
SBA district office
Columbus District Office
Congressional district
OH-11
Collateral
Yes
Guaranteed portion sold on secondary market
Not reported as sold
Revolving line of credit
No (term loan)
  • Larger than 76% of acquisition loans in Limited-Service Restaurants on this site.
  • Average acquisition loan in Limited-Service Restaurants: $1,303,660.
  • Average acquisition loan in Ohio: $1,840,340.

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 Ohio