Main Street Registry

Alvarez SC 599, LLC

Myrtle Beach, SC · Full-Service Restaurants · NAICS 722511

Alvarez SC 599, LLC is located in Myrtle Beach, SC, and the SBA lists its industry as Full-Service Restaurants. It was approved for an SBA 7(a) loan of $1,102,000 for a change of ownership on November 24, 2023.

SBA 7(a) loan, change of ownership, approved Nov 24, 2023

Gross approval
$1,102,000
SBA-guaranteed amount
$826,500 (75% of the approval)
Lender
Seacoast National Bank, Stuart, FL
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
10.75%, variable
Term
10 years (120 months)
Estimated maturity
November 24, 2033 (estimated, approval date plus term)
Estimated monthly payment
$15,025 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Nov 24, 2023
Loan status
Status not reported (SBA exemption)
Jobs supported
46
Business type
Corporation
NAICS
722511, Full-Service Restaurants
Franchise
IHOP; IHOP Express
Project location
Horry County, SC
SBA district office
South Carolina District Office
Congressional district
SC-07
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
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 South Carolina