Main Street Registry

Wetzel's Pretzels

Cerritos, CA · Snack and Nonalcoholic Beverage Bars · NAICS 722515

Wetzel's Pretzels is located in Cerritos, CA, and the SBA lists its industry as Snack and Nonalcoholic Beverage Bars. It was approved for an SBA 7(a) loan of $605,000 for a change of ownership on October 31, 2023.

SBA 7(a) loan, change of ownership, approved Oct 31, 2023

Gross approval
$605,000
SBA-guaranteed amount
$453,750 (75% of the approval)
Lender
United Business Bank, Walnut Creek, CA
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
10.5%, variable
Term
7 years, 1 month (85 months)
Estimated maturity
November 30, 2030 (estimated, approval date plus term)
Estimated monthly payment
$10,119 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Nov 7, 2023
Loan status
Status not reported (SBA exemption)
Jobs supported
13
Business type
Corporation
NAICS
722515, Snack and Nonalcoholic Beverage Bars
Franchise
Wetzel's Pretzels
Project location
Los Angeles County, CA
SBA district office
Los Angeles District Office
Congressional district
CA-38
Collateral
Yes
Guaranteed portion sold on secondary market
Not reported as sold
Revolving line of credit
No (term loan)

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 California