Main Street Registry

Mama Venezia 1920 Inc.

Norristown, PA · Limited-Service Restaurants · NAICS 722513

Mama Venezia 1920 Inc. is a limited-service restaurant business in Norristown, Pennsylvania, classified under NAICS 722513. The company was financed with an SBA 7(a) loan for a change of ownership totaling $800,000, approved on November 14, 2023 by Open Bank and reported with 4 jobs.

SBA 7(a) loan, change of ownership, approved Nov 14, 2023

$800,000 approvedLender: Open Bank25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$800,000
SBA-guaranteed amount
$600,000 (75% of the approval)
Lender
Open Bank, Los Angeles, CA
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
10.25%, variable
Term
25 years (300 months)
Estimated maturity
November 14, 2048 (estimated, approval date plus term)
Estimated monthly payment
$7,411 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Dec 20, 2023
Loan status
Status not reported (SBA exemption)
Jobs supported
4
Business type
Corporation
NAICS
722513, Limited-Service Restaurants
Project location
Montgomery County, PA
SBA district office
Philadelphia District Office
Congressional district
PA-04
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 39% of acquisition loans in Limited-Service Restaurants on this site.
  • Average acquisition loan in Limited-Service Restaurants: $1,303,660.
  • Average acquisition loan in Pennsylvania: $1,636,965.

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 Pennsylvania