Main Street Registry

Carol's Calico Kithcen, Inc.

Minneapolis, MN · Full-Service Restaurants · NAICS 722511

Carol's Calico Kithcen, Inc. is a full-service restaurant located in Minneapolis, Minnesota, classified under NAICS code 722511 (Full-Service Restaurants). The company was financed with an SBA 7(a) loan for a change of ownership of $1,000,000, approved on December 19, 2023, through 21st Century Bank.

SBA 7(a) loan, change of ownership, approved Dec 19, 2023

$1,000,000 approvedLender: 21st Century Bank10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$1,000,000
SBA-guaranteed amount
$750,000 (75% of the approval)
Lender
21st Century Bank, Loretto, MN
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
10%, fixed
Term
10 years (120 months)
Estimated maturity
December 19, 2033 (estimated, approval date plus term)
Estimated monthly payment
$13,215 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Dec 27, 2023
Loan status
Status not reported (SBA exemption)
Jobs supported
60
Business type
Corporation
NAICS
722511, Full-Service Restaurants
Project location
Anoka County, MN
SBA district office
Minnesota District Office
Congressional district
MN-04
Collateral
Yes
Guaranteed portion sold on secondary market
Not reported as sold
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 Minnesota: $1,482,119.

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 Minnesota