Main Street Registry

Main Course Hospitality, Inc.

New Paltz, NY · Limited-Service Restaurants · NAICS 722513

Main Course Hospitality, Inc., located in New Paltz, NY, operates in the limited-service restaurants industry (NAICS 722513). The company was financed with an SBA 7(a) loan for a change of ownership totaling $1.35 million, approved on January 26, 2024, through the New York Business Development Corporation.

SBA 7(a) loan, change of ownership, approved Jan 26, 2024

$1,350,000 approvedLender: New York Business Development Corporation10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$1,350,000
SBA-guaranteed amount
$1,012,500 (75% of the approval)
Lender
New York Business Development Corporation, Latham, NY
Processing method
Standard 7(a): the lender submits the application for SBA review
Initial interest rate
13.5%, fixed
Term
10 years (120 months)
Estimated maturity
January 26, 2034 (estimated, approval date plus term)
Estimated monthly payment
$20,557 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
45
Business type
Corporation
NAICS
722513, Limited-Service Restaurants
Project location
Ulster County, NY
SBA district office
New York District Office
Congressional district
NY-19
Collateral
Yes
Guaranteed portion sold on secondary market
Not reported as sold
Revolving line of credit
No (term loan)
  • Larger than 67% of acquisition loans in Limited-Service Restaurants on this site.
  • Average acquisition loan in Limited-Service Restaurants: $1,303,660.
  • Average acquisition loan in New York: $1,771,512.

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 New York