PBL Food Corporation
PBL Food Corporation is located in Brownfield, TX, and the SBA lists its industry as Limited-Service Restaurants. It was approved for an SBA 7(a) loan of $2,000,000 for a change of ownership on July 31, 2024.
SBA 7(a) loan, change of ownership, approved Jul 31, 2024
- Gross approval
- $2,000,000
- SBA-guaranteed amount
- $1,500,000 (75% of the approval)
- Lender
- Open Bank, Los Angeles, CA
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10.25%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- July 31, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $26,708 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Aug 8, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 99
- Business type
- Corporation
- NAICS
- 722513, Limited-Service Restaurants
- Franchise
- Burger King
- Project location
- Terry County, TX
- SBA district office
- Lubbock District Office
- Congressional district
- TX-19
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 85% of acquisition loans in Limited-Service Restaurants on this site.
- Average acquisition loan in Limited-Service Restaurants: $1,303,660.
- Average acquisition loan in Texas: $1,944,682.
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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