Scooter's Coffee
Scooter's Coffee is located in Altoona, IA, and the SBA lists its industry as Limited-Service Restaurants. It was approved for an SBA 7(a) loan of $2,751,000 for a change of ownership on December 13, 2024.
SBA 7(a) loan, change of ownership, approved Dec 13, 2024
- Gross approval
- $2,751,000
- SBA-guaranteed amount
- $2,063,250 (75% of the approval)
- Lender
- OptimumBank, Fort Lauderdale, FL
- Processing method
- Standard 7(a): the lender submits the application for SBA review
- Initial interest rate
- 10.5%, variable
- Term
- 25 years (300 months)
- Estimated maturity
- December 13, 2049 (estimated, approval date plus term)
- Estimated monthly payment
- $25,974 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Apr 29, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 22
- Business type
- Corporation
- NAICS
- 722513, Limited-Service Restaurants
- Franchise
- Scooter's Coffee
- Project location
- Polk County, IA
- SBA district office
- Des Moines District Office
- Congressional district
- IA-03
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 92% of acquisition loans in Limited-Service Restaurants on this site.
- Average acquisition loan in Limited-Service Restaurants: $1,303,660.
- Average acquisition loan in Iowa: $1,701,244.
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 Iowa
- SNS Waukee LLC, Waukee
- JBB Properties, LLC, Jefferson