Schoolhouse Fare LLC
Schoolhouse Fare LLC is located in Johns Island, SC, and the SBA lists its industry as Food Service Contractors. It was approved for an SBA 7(a) loan of $1,360,000 for a change of ownership on July 3, 2025.
SBA 7(a) loan, change of ownership, approved Jul 3, 2025
- Gross approval
- $1,360,000
- SBA-guaranteed amount
- $1,020,000 (75% of the approval)
- Lender
- Beacon Community Bank, Mount Pleasant, SC
- Processing method
- Standard 7(a): the lender submits the application for SBA review
- Initial interest rate
- 9.75%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- July 3, 2035 (estimated, approval date plus term)
- Estimated monthly payment
- $17,785 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jul 30, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 10
- Business type
- Corporation
- NAICS
- 722310, Food Service Contractors
- Project location
- Charleston County, SC
- SBA district office
- South Carolina District Office
- Congressional district
- SC-01
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Food Service Contractors: $1,394,322.
- Average acquisition loan in South Carolina: $1,827,509.
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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