Baba Deep Singh Ji LLC
Baba Deep Singh Ji LLC is located in Greenwood, IN, and the SBA lists its industry as Food Service Contractors. It was approved for an SBA 7(a) loan of $3,325,000 for a change of ownership on May 6, 2024.
SBA 7(a) loan, change of ownership, approved May 6, 2024
- Gross approval
- $3,325,000
- SBA-guaranteed amount
- $2,493,750 (75% of the approval)
- Lender
- Readycap Lending, LLC, Berkeley Heights, NJ
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10%, variable
- Term
- 25 years (300 months)
- Estimated maturity
- May 6, 2049 (estimated, approval date plus term)
- Estimated monthly payment
- $30,214 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- May 17, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 2
- Business type
- Corporation
- NAICS
- 722310, Food Service Contractors
- Project location
- Johnson County, IN
- SBA district office
- Indiana District Office
- Congressional district
- IN-07
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Food Service Contractors: $1,394,322.
- Average acquisition loan in Indiana: $1,995,900.
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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