Planet Smoothie
Planet Smoothie is located in Newnan, GA, and the SBA lists its industry as Snack and Nonalcoholic Beverage Bars. It was approved for an SBA 7(a) loan of $842,000 for a change of ownership on July 9, 2024.
SBA 7(a) loan, change of ownership, approved Jul 9, 2024
- Gross approval
- $842,000
- SBA-guaranteed amount
- $631,500 (75% of the approval)
- Lender
- HomeTrust Bank, Asheville, NC
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10.5%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- July 9, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $11,362 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Aug 7, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 17
- Business type
- Corporation
- NAICS
- 722515, Snack and Nonalcoholic Beverage Bars
- Franchise
- Planet Smoothie
- Project location
- Coweta County, GA
- SBA district office
- Georgia District Office
- Congressional district
- GA-03
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 51% of acquisition loans in Snack and Nonalcoholic Beverage Bars on this site.
- Average acquisition loan in Snack and Nonalcoholic Beverage Bars: $1,080,276.
- Average acquisition loan in Georgia: $2,017,638.
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 Georgia
- Grounds Bakery & Cafe LLC, Buford
- Banh Mi 135 LLC, Norcross