Main Street Registry

Micheline’s Pita House LLC

La Jolla, CA · Limited-Service Restaurants · NAICS 722513

Michelineâs Pita House LLC is a limited-service restaurant located in La Jolla, California, classified under NAICS code 722513. The company was financed with an SBA 7(a) loan for a change of ownership, in the amount of $3,471,600, approved by Endeavor Bank on May 14, 2024.

SBA 7(a) loan, change of ownership, approved May 14, 2024

$3,471,600 approvedLender: Endeavor Bank10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$3,471,600
SBA-guaranteed amount
$2,603,700 (75% of the approval)
Lender
Endeavor Bank, San Diego, CA
Processing method
Standard 7(a): the lender submits the application for SBA review
Initial interest rate
9.5%, variable
Term
10 years (120 months)
Estimated maturity
May 14, 2034 (estimated, approval date plus term)
Estimated monthly payment
$44,922 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Jun 3, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
36
Business type
Corporation
NAICS
722513, Limited-Service Restaurants
Project location
San Diego County, CA
SBA district office
San Diego District Office
Congressional district
CA-49
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 95% of acquisition loans in Limited-Service Restaurants on this site.
  • Average acquisition loan in Limited-Service Restaurants: $1,303,660.
  • 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