Main Street Registry

Milky Honey Inc

Chino, CA · Limited-Service Restaurants · NAICS 722513

Milky Honey Inc is a limited-service restaurant located in Chino, California, in the Limited-Service Restaurants industry (NAICS 722513). The business was financed with an SBA 7(a) loan for a change of ownership of $1.52 million, provided by Hanmi Bank with an approval date of November 24, 2023.

SBA 7(a) loan, change of ownership, approved Nov 24, 2023

$1,520,000 approvedLender: Hanmi Bank25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$1,520,000
SBA-guaranteed amount
$1,140,000 (75% of the approval)
Lender
Hanmi Bank, Los Angeles, CA
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
9.25%, variable
Term
25 years (300 months)
Estimated maturity
November 24, 2048 (estimated, approval date plus term)
Estimated monthly payment
$13,017 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Dec 5, 2023
Loan status
Status not reported (SBA exemption)
Jobs supported
10
Business type
Corporation
NAICS
722513, Limited-Service Restaurants
Project location
San Bernardino County, CA
SBA district office
Santa Ana District Office
Congressional district
CA-35
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 73% 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