Lenny's Deli LLC
Lenny's Deli LLC is located in Owings Mills, MD, and the SBA lists its industry as Cafeterias, Grill Buffets, and Buffets. It was approved for an SBA 7(a) loan of $1,700,000 for a change of ownership on May 3, 2024.
SBA 7(a) loan, change of ownership, approved May 3, 2024
- Gross approval
- $1,700,000
- SBA-guaranteed amount
- $1,275,000 (75% of the approval)
- Lender
- The Huntington National Bank, Columbus, OH
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- May 3, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $22,466 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
- 22
- Business type
- Corporation
- NAICS
- 722514, Cafeterias, Grill Buffets, and Buffets
- Project location
- Baltimore County, MD
- SBA district office
- Baltimore District Office
- Congressional district
- MD-02
- 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 Maryland: $1,627,337.
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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