Main Street Registry

Nanak Ventures LLC

Auburn, IN · Limited-Service Restaurants · NAICS 722513

Nanak Ventures LLC is a limited-service restaurant business in Auburn, Indiana, operating in the Limited-Service Restaurants industry (NAICS 722513). The company was financed with an SBA 7(a) loan for a change of ownership of $1,000,000, approved on February 9, 2024, by 22nd State Bank, A Division of 22nd State Banking Company.

SBA 7(a) loan, change of ownership, approved Feb 9, 2024

$1,000,000 approvedLender: 22nd State Bank, A Division of 22nd State Banking Company10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$1,000,000
SBA-guaranteed amount
$750,000 (75% of the approval)
Lender
22nd State Bank, A Division of 22nd State Banking Company, Mobile, AL
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
11.25%, variable
Term
10 years (120 months)
Estimated maturity
February 9, 2034 (estimated, approval date plus term)
Estimated monthly payment
$13,917 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Feb 26, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
27
Business type
Corporation
NAICS
722513, Limited-Service Restaurants
Franchise
Little Caesars
Project location
De Kalb County, IN
SBA district office
Indiana District Office
Congressional district
IN-03
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 50% of acquisition loans in Limited-Service Restaurants on this site.
  • Average acquisition loan in Limited-Service Restaurants: $1,303,660.
  • Average acquisition loan in Indiana: $1,995,900.

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 Indiana