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Novi Escape Room 1 LLC

Novi, MI · All Other Amusement and Recreation Industries · NAICS 713990

Novi Escape Room 1 LLC, located in Novi, Michigan, operates in the All Other Amusement and Recreation Industries (NAICS 713990). The company was financed with an SBA 7(a) loan for a change of ownership of $690,000, approved on March 1, 2024, by lender Lendistry SBLC, LLC.

SBA 7(a) loan, change of ownership, approved Mar 1, 2024

$690,000 approvedLender: Lendistry SBLC, LLC10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$690,000
SBA-guaranteed amount
$517,500 (75% of the approval)
Lender
Lendistry SBLC, LLC, Los Angeles, CA
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
11.5%, variable
Term
10 years (120 months)
Estimated maturity
March 1, 2034 (estimated, approval date plus term)
Estimated monthly payment
$9,701 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Mar 22, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
20
Business type
Corporation
NAICS
713990, All Other Amusement and Recreation Industries
Project location
Oakland County, MI
SBA district office
Michigan District Office
Congressional district
MI-11
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 19% of acquisition loans in All Other Amusement and Recreation Industries on this site.
  • Average acquisition loan in All Other Amusement and Recreation Industries: $1,649,888.
  • Average acquisition loan in Michigan: $1,645,728.

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 Michigan