Sapphire Grand Deptford Inc
Sapphire Grand Deptford Inc is a caterer located in Deptford, New Jersey, classified under NAICS code 722320 (Caterers). The business was financed with an SBA 7(a) loan for a change of ownership in the amount of $1,240,000, approved on June 7, 2024 through Unity Bank.
SBA 7(a) loan, change of ownership, approved Jun 7, 2024
$1,240,000 approvedLender: Unity Bank10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $1,240,000
- SBA-guaranteed amount
- $930,000 (75% of the approval)
- Lender
- Unity Bank, Clinton, NJ
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10.5%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- June 7, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $16,732 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jun 25, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 160
- Business type
- Corporation
- NAICS
- 722320, Caterers
- Project location
- Gloucester County, NJ
- SBA district office
- New Jersey District Office
- Congressional district
- NJ-01
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 41% of acquisition loans in Caterers on this site.
- Average acquisition loan in Caterers: $2,164,405.
- 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
- The Sapphire Grand, Almonesson