Main Street Registry

Harp & Crown Pub & Kitchen

Cornelius, NC · Full-Service Restaurants · NAICS 722511

Harp & Crown Pub & Kitchen is a full-service restaurant in Cornelius, North Carolina. The business was financed with an SBA 7(a) loan for a change of ownership of $500,000, approved on November 20, 2024, by SouthState Bank, National Association.

SBA 7(a) loan, change of ownership, approved Nov 20, 2024

$500,000 approvedLender: SouthState Bank, National Association10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$500,000
SBA-guaranteed amount
$375,000 (75% of the approval)
Lender
SouthState Bank, National Association, Winter Haven, 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 20, 2034 (estimated, approval date plus term)
Estimated monthly payment
$6,817 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Dec 2, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
2
Business type
Corporation
NAICS
722511, Full-Service Restaurants
Project location
Mecklenburg County, NC
SBA district office
North Carolina District Office
Congressional district
NC-12
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Average acquisition loan in Full-Service Restaurants: $1,319,601.
  • Average acquisition loan in North Carolina: $1,952,444.

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.

Is this your company? Claim or correct this listing. See Corrections.

Same industry in North Carolina