Main Street Registry

Southern Social Woodbury LLC

Woodbury, MN · Full-Service Restaurants · NAICS 722511

Southern Social Woodbury LLC is a full-service restaurant business located in Woodbury, Minnesota. The company financed real estate or equipment through an SBA 504 loan of $1,281,000, with Old National Bank as the lender and Amplio Economic Development Corporation as the certified development company, approved on November 9, 2023.

SBA 504 loan, approved Nov 9, 2023

$1,281,000 SBA portionCDC: Amplio Economic Development Corporation25 years termStatus not reported (SBA exemption)Loan details
SBA (CDC) portion
$1,281,000
Bank portion
$1,787,500
Estimated project size
$3,409,444 (estimated)
Estimated owner equity
$340,944 (estimated, about 10% of the project)
Bank lender
Old National Bank, Evansville, IN
CDC
Amplio Economic Development Corporation
Processing method
Accredited Lenders Program: CDC with an expedited SBA review
Term
25 years (300 months)
Estimated maturity
November 9, 2048 (estimated, approval date plus term)
First disbursement
Jan 15, 2025
Loan status
Status not reported (SBA exemption)
Jobs supported
55
Business type
Corporation
NAICS
722511, Full-Service Restaurants
Project location
Washington County, MN
SBA district office
Minnesota District Office
Congressional district
MN-4
Collateral
Yes

Estimated share of project by source

Bank 52% SBA (CDC) 38% Owner 10%

  • Larger than 30% of expansion loans in Full-Service Restaurants on this site.
  • Average expansion loan in Full-Service Restaurants: $1,813,082.
  • Average expansion loan in Minnesota: $2,136,981.

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 Minnesota