Adem 26 LLC
Adem 26 LLC is located in North Arlington, NJ, and the SBA lists its industry as Full-Service Restaurants. It was approved for an SBA 7(a) loan of $1,000,000 for a change of ownership on January 19, 2024.
SBA 7(a) loan, change of ownership, approved Jan 19, 2024
- Gross approval
- $1,000,000
- SBA-guaranteed amount
- $750,000 (75% of the approval)
- Lender
- ConnectOne Bank, Englewood Cliffs, NJ
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 11%, variable
- Term
- 25 years (300 months)
- Estimated maturity
- January 19, 2049 (estimated, approval date plus term)
- Estimated monthly payment
- $9,801 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Apr 11, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 14
- Business type
- Corporation
- NAICS
- 722511, Full-Service Restaurants
- Project location
- Bergen County, NJ
- SBA district office
- New Jersey District Office
- Congressional district
- NJ-09
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 51% 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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