Main Street Registry

Scott & Park Ventures LLC

Federal Way, WA · Snack and Nonalcoholic Beverage Bars · NAICS 722515

Scott & Park Ventures LLC, located in Federal Way, WA, operates in the snack and nonalcoholic beverage bars industry. The business was financed with an SBA 7(a) loan for a change of ownership of $505,000, approved on May 29, 2024, by The Bancorp Bank National Association. The business is a Cold Stone Creamery franchise.

SBA 7(a) loan, change of ownership, approved May 29, 2024

$505,000 approvedLender: The Bancorp Bank National Association118 months termStatus not reported (SBA exemption)Loan details
Gross approval
$505,000
SBA-guaranteed amount
$378,750 (75% of the approval)
Lender
The Bancorp Bank National Association, Sioux Falls, SD
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
9.5%, variable
Term
9 years, 10 months (118 months)
Estimated maturity
March 29, 2034 (estimated, approval date plus term)
Estimated monthly payment
$6,601 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Jun 28, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
14
Business type
Corporation
NAICS
722515, Snack and Nonalcoholic Beverage Bars
Franchise
Cold Stone Creamery
Project location
King County, WA
SBA district office
Seattle District Office
Congressional district
WA-08
Collateral
Yes
Guaranteed portion sold on secondary market
Not reported as sold
Revolving line of credit
No (term loan)
  • Larger than 4% of acquisition loans in Snack and Nonalcoholic Beverage Bars on this site.
  • Average acquisition loan in Snack and Nonalcoholic Beverage Bars: $1,080,276.
  • Average acquisition loan in Washington: $1,784,595.

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 Washington