Main Street Registry

Rs Hospitality LLC

Martinsville, NJ · Full-Service Restaurants · NAICS 722511

Rs Hospitality LLC, located in Martinsville, NJ, operates in the full-service restaurants industry (NAICS 722511). The company was financed with an SBA 7(a) loan for a change of ownership totaling $5 million, approved on February 14, 2025, through Hanover Community Bank.

SBA 7(a) loan, change of ownership, approved Feb 14, 2025

$5,000,000 approvedLender: Hanover Community Bank25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$5,000,000
SBA-guaranteed amount
$3,750,000 (75% of the approval)
Lender
Hanover Community Bank, Mineola, NY
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
8.75%, variable
Term
25 years (300 months)
Estimated maturity
February 14, 2050 (estimated, approval date plus term)
Estimated monthly payment
$41,107 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Apr 25, 2025
Loan status
Status not reported (SBA exemption)
Jobs supported
8
Business type
Corporation
NAICS
722511, Full-Service Restaurants
Project location
Somerset County, NJ
SBA district office
New Jersey District Office
Congressional district
NJ-07
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 99% of acquisition loans in Full-Service Restaurants on this site.
  • Average acquisition loan in Full-Service Restaurants: $1,319,601.
  • Average acquisition loan in New Jersey: $1,626,307.

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 New Jersey