Main Street Registry

Tropical Smoothie Cafe

Selden, NY · Limited-Service Restaurants · NAICS 722513

Tropical Smoothie Cafe, located in Selden, NY, is a limited-service restaurant business in the NAICS 722513 industry. The company was financed with an SBA 7(a) loan for a change of ownership totaling $1,655,000, approved by HomeTrust Bank on June 13, 2024. The business is a Tropical Smoothie Cafe franchise.

SBA 7(a) loan, change of ownership, approved Jun 13, 2024

$1,655,000 approvedLender: HomeTrust Bank10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$1,655,000
SBA-guaranteed amount
$1,241,250 (75% of the approval)
Lender
HomeTrust Bank, Asheville, NC
Processing method
Standard 7(a): the lender submits the application for SBA review
Initial interest rate
11.25%, variable
Term
10 years (120 months)
Estimated maturity
June 13, 2034 (estimated, approval date plus term)
Estimated monthly payment
$23,032 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Jul 19, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
44
Business type
Corporation
NAICS
722513, Limited-Service Restaurants
Franchise
Tropical Smoothie Cafe
Project location
Suffolk County, NY
SBA district office
New York District Office
Congressional district
NY-01
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 76% of acquisition loans in Limited-Service Restaurants on this site.
  • Average acquisition loan in Limited-Service Restaurants: $1,303,660.
  • Average acquisition loan in New York: $1,771,512.

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 New York