Divine Swine Catering, Inc.
Divine Swine Catering, Inc. is a caterer located in Lakeville, Minnesota, classified under NAICS code 722320. The business was financed with an SBA 7(a) loan for a change of ownership totaling $557,400, approved on May 2, 2024 by New Market Bank.
SBA 7(a) loan, change of ownership, approved May 2, 2024
$557,400 approvedLender: New Market Bank10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $557,400
- SBA-guaranteed amount
- $418,050 (75% of the approval)
- Lender
- New Market Bank, Elko New Market, MN
- Processing method
- Standard 7(a): the lender submits the application for SBA review
- Initial interest rate
- 8.5%, fixed
- Term
- 10 years (120 months)
- Estimated maturity
- May 2, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $6,911 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- May 16, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 4
- Business type
- Corporation
- NAICS
- 722320, Caterers
- Project location
- Scott County, MN
- SBA district office
- Minnesota District Office
- Congressional district
- MN-02
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Caterers: $2,164,405.
- 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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