Main Street Registry

Ryes & Shine Cafe LLC

Cleves, OH · Full-Service Restaurants · NAICS 722511

Ryes & Shine Cafe LLC, located in Cleves, Ohio, operates in the full-service restaurants industry (NAICS 722511). The company was financed with an SBA 7(a) loan for a change of ownership of $562,500, approved on April 6, 2024 by The Huntington National Bank.

SBA 7(a) loan, change of ownership, approved Apr 6, 2024

$562,500 approvedLender: The Huntington National Bank25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$562,500
SBA-guaranteed amount
$421,875 (75% of the approval)
Lender
The Huntington National Bank, Columbus, OH
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
10.5%, variable
Term
25 years (300 months)
Estimated maturity
April 6, 2049 (estimated, approval date plus term)
Estimated monthly payment
$5,311 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Apr 11, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
28
Business type
Corporation
NAICS
722511, Full-Service Restaurants
Project location
Hamilton County, OH
SBA district office
Columbus District Office
Congressional district
OH-01
Collateral
Yes
Guaranteed portion sold on secondary market
Not reported as sold
Revolving line of credit
No (term loan)
  • Larger than 13% of acquisition loans in Full-Service Restaurants on this site.
  • Average acquisition loan in Full-Service Restaurants: $1,319,601.
  • Average acquisition loan in Ohio: $1,840,340.

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 Ohio