Main Street Registry

40 Old South Road LLC

Nantucket, MA · Full-Service Restaurants · NAICS 722511

40 Old South Road LLC is a full-service restaurant business in Nantucket, Massachusetts, in the full-service restaurants industry. The company financed real estate or equipment through an SBA 504 loan of $1,277,000, with the SBA portion provided through New England Certified Development Corporation and the lending bank being Rockland Trust Company. The loan was approved on November 29, 2024.

SBA 504 loan, approved Nov 29, 2024

$1,277,000 SBA portionCDC: New England Certified Development Corporation25 years termApproved, not yet fundedLoan details
SBA (CDC) portion
$1,277,000
Bank portion
$1,580,040
Estimated project size
$3,174,489 (estimated)
Estimated owner equity
$317,449 (estimated, about 10% of the project)
Bank lender
Rockland Trust Company, Rockland, MA
CDC
New England Certified Development Corporation
Processing method
Accredited Lenders Program: CDC with an expedited SBA review
Term
25 years (300 months)
Estimated maturity
November 29, 2049 (estimated, approval date plus term)
Loan status
Approved, not yet funded
Business type
Corporation
NAICS
722511, Full-Service Restaurants
Project location
Nantucket County, MA
SBA district office
Massachusetts District Office
Congressional district
MA-9
Collateral
Yes

Estimated share of project by source

Bank 50% SBA (CDC) 40% Owner 10%

  • Larger than 28% of expansion loans in Full-Service Restaurants on this site.
  • Average expansion loan in Full-Service Restaurants: $1,813,082.
  • Average expansion loan in Massachusetts: $2,009,683.

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.

Is this your company? Claim or correct this listing. See Corrections.

Same industry in Massachusetts