Magna Vita Foods LLC
Magna Vita Foods LLC is a caterer located in Arlington, Texas, classified under NAICS code 722320 (Caterers). The company was financed with an SBA 7(a) loan for a change of ownership, in the amount of $988,000, approved by First Internet Bank of Indiana on November 24, 2023.
SBA 7(a) loan, change of ownership, approved Nov 24, 2023
$988,000 approvedLender: First Internet Bank of Indiana10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $988,000
- SBA-guaranteed amount
- $741,000 (75% of the approval)
- Lender
- First Internet Bank of Indiana, Fishers, IN
- 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 24, 2033 (estimated, approval date plus term)
- Estimated monthly payment
- $13,470 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Dec 5, 2023
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 6
- Business type
- Corporation
- NAICS
- 722320, Caterers
- Project location
- Tarrant County, TX
- SBA district office
- Dallas / Ft Worth District Office
- Congressional district
- TX-06
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 27% of acquisition loans in Caterers on this site.
- Average acquisition loan in Caterers: $2,164,405.
- Average acquisition loan in Texas: $1,944,682.
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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