Hot Bagels Lakewood LLC
Hot Bagels Lakewood LLC is a business located in Lakewood, New Jersey, in the cafeterias, grill buffets and buffets industry. It was financed with an SBA 7(a) loan for a change of ownership of $1,251,500, approved on February 4, 2025 by Ponce Bank National Association.
SBA 7(a) loan, change of ownership, approved Feb 4, 2025
$1,251,500 approvedLender: Ponce Bank National Association122 months termStatus not reported (SBA exemption)Loan details
- Gross approval
- $1,251,500
- SBA-guaranteed amount
- $938,625 (75% of the approval)
- Lender
- Ponce Bank National Association, New York City, NY
- Processing method
- Standard 7(a): the lender submits the application for SBA review
- Initial interest rate
- 10%, variable
- Term
- 10 years, 2 months (122 months)
- Estimated maturity
- April 4, 2035 (estimated, approval date plus term)
- Estimated monthly payment
- $16,381 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Apr 29, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 28
- Business type
- Corporation
- NAICS
- 722514, Cafeterias, Grill Buffets, and Buffets
- Project location
- Ocean County, NJ
- SBA district office
- New Jersey District Office
- Congressional district
- NJ-03
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Cafeterias, Grill Buffets, and Buffets: $947,800.
- 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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