Main Street Registry

Longhorn Yogurt UTC LLC

Sarasota, FL · Snack and Nonalcoholic Beverage Bars · NAICS 722515

Longhorn Yogurt UTC LLC is a snack and nonalcoholic beverage bar located in Sarasota, Florida, operating under the Menchie's franchise. The business was financed with an SBA 7(a) loan for a change of ownership of $500,000, approved on February 27, 2024, through TowneBank.

SBA 7(a) loan, change of ownership, approved Feb 27, 2024

$500,000 approvedLender: TowneBank7 years termStatus not reported (SBA exemption)Loan details
Gross approval
$500,000
SBA-guaranteed amount
$375,000 (75% of the approval)
Lender
TowneBank, Portsmouth, VA
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
11.5%, variable
Term
7 years (84 months)
Estimated maturity
February 27, 2031 (estimated, approval date plus term)
Estimated monthly payment
$8,693 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Mar 18, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
12
Business type
Corporation
NAICS
722515, Snack and Nonalcoholic Beverage Bars
Franchise
Menchie's
Project location
Manatee County, FL
SBA district office
South Florida District Office
Congressional district
FL-16
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Average acquisition loan in Snack and Nonalcoholic Beverage Bars: $1,080,276.
  • Average acquisition loan in Florida: $1,808,559.

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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Same industry in Florida