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V & S Hospitality LLC

Ho Ho Kus, NJ · Full-Service Restaurants · NAICS 722511

V & S Hospitality LLC is a full-service restaurant business located in Ho Ho Kus, New Jersey. It was financed with an SBA 7(a) loan for a change of ownership of $585,000, approved on October 2, 2024, through Unity Bank.

SBA 7(a) loan, change of ownership, approved Oct 2, 2024

$585,000 approvedLender: Unity Bank126 months termStatus not reported (SBA exemption)Loan details
Gross approval
$585,000
SBA-guaranteed amount
$438,750 (75% of the approval)
Lender
Unity Bank, Clinton, NJ
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
10.75%, variable
Term
10 years, 6 months (126 months)
Estimated maturity
April 2, 2035 (estimated, approval date plus term)
Estimated monthly payment
$7,765 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Mar 1, 2025
Loan status
Status not reported (SBA exemption)
Jobs supported
19
Business type
Corporation
NAICS
722511, Full-Service Restaurants
Project location
Bergen County, NJ
SBA district office
New Jersey District Office
Congressional district
NJ-05
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 15% of acquisition loans in Full-Service Restaurants on this site.
  • Average acquisition loan in Full-Service Restaurants: $1,319,601.
  • Average acquisition loan in New Jersey: $1,626,307.

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 Jersey