Main Street Registry

Shillcutt Partners Downtown, Inc.

Acworth, GA · Full-Service Restaurants · NAICS 722511

Shillcutt Partners Downtown, Inc. is a full-service restaurant business located in Acworth, Georgia. It was financed with an SBA 7(a) loan for a change of ownership of $1,897,500, approved on March 5, 2024, through 22nd State Bank, A Division of 22nd State Banking Company.

SBA 7(a) loan, change of ownership, approved Mar 5, 2024

$1,897,500 approvedLender: 22nd State Bank, A Division of 22nd State Banking Company10 years termPaid in fullLoan details
Gross approval
$1,897,500
SBA-guaranteed amount
$1,423,125 (75% of the approval)
Lender
22nd State Bank, A Division of 22nd State Banking Company, Mobile, AL
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
11.25%, variable
Term
10 years (120 months)
Estimated maturity
March 5, 2034 (estimated, approval date plus term)
Estimated monthly payment
$26,407 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Apr 16, 2024
Loan status
Paid in full
Jobs supported
2
Business type
Corporation
NAICS
722511, Full-Service Restaurants
Project location
Cobb County, GA
SBA district office
Georgia District Office
Congressional district
GA-11
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 82% of acquisition loans in Full-Service Restaurants on this site.
  • Average acquisition loan in Full-Service Restaurants: $1,319,601.
  • Average acquisition loan in Georgia: $2,017,638.

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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