LKG Smoothies, Inc.
LKG Smoothies, Inc. is a mobile food services business in Brookpark, OH, in the NAICS 722330 industry. The company was financed with an SBA 7(a) loan for a change of ownership of $554,000, approved on May 8, 2024, through FDIC lender Community Bank & Trust-West Georgia.
SBA 7(a) loan, change of ownership, approved May 8, 2024
$554,000 approvedLender: FDIC - Community Bank & Trust-West Georgia10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $554,000
- SBA-guaranteed amount
- $415,500 (75% of the approval)
- Lender
- FDIC - Community Bank & Trust-West Georgia, LaGrange, GA
- Processing method
- Standard 7(a): the lender submits the application for SBA review
- Initial interest rate
- 11.5%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- May 8, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $7,789 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jun 20, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 4
- Business type
- Corporation
- NAICS
- 722330, Mobile Food Services
- Project location
- Cuyahoga County, OH
- SBA district office
- Columbus District Office
- Congressional district
- OH-09
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Mobile Food Services: $1,437,000.
- Average acquisition loan in Ohio: $1,840,340.
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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