Main Street Registry

MB Legatum, Inc.

Evansville, IN · Full-Service Restaurants · NAICS 722511

MB Legatum, Inc. is located in Evansville, IN, and the SBA lists its industry as Full-Service Restaurants. It was approved for an SBA 7(a) loan of $544,000 for a change of ownership on May 15, 2024.

SBA 7(a) loan, change of ownership, approved May 15, 2024

Gross approval
$544,000
SBA-guaranteed amount
$408,000 (75% of the approval)
Lender
Heritage Federal Credit Union, Newburgh, IN
Processing method
Standard 7(a): the lender submits the application for SBA review
Initial interest rate
7.5%, fixed
Term
25 years (300 months)
Estimated maturity
May 15, 2049 (estimated, approval date plus term)
Estimated monthly payment
$4,020 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
May 21, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
26
Business type
Corporation
NAICS
722511, Full-Service Restaurants
Project location
Vanderburgh County, IN
SBA district office
Indiana District Office
Congressional district
IN-08
Collateral
Yes
Guaranteed portion sold on secondary market
Not reported as sold
Revolving line of credit
No (term loan)

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 Indiana