Main Street Registry

Cheers to Us LLC

Ship Bottom, NJ · Full-Service Restaurants · NAICS 722511

Cheers to Us LLC is a full-service restaurant business located in Ship Bottom, New Jersey. The company was financed with an SBA 7(a) loan for a change of ownership totaling $3.85 million, approved on September 30, 2025, through Peapack Private Bank and Trust.

SBA 7(a) loan, change of ownership, approved Sep 30, 2025

$3,850,000 approvedLender: Peapack Private Bank and Trust25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$3,850,000
SBA-guaranteed amount
$2,887,500 (75% of the approval)
Lender
Peapack Private Bank and Trust, Bedminster, NJ
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
10%, variable
Term
25 years (300 months)
Estimated maturity
September 30, 2050 (estimated, approval date plus term)
Estimated monthly payment
$34,985 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Jan 16, 2026
Loan status
Status not reported (SBA exemption)
Jobs supported
30
Business type
Corporation
NAICS
722511, Full-Service Restaurants
Project location
Ocean County, NJ
SBA district office
New Jersey District Office
Congressional district
NJ-02
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 97% 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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Same industry in New Jersey