Midwest Restaurant Holdings, LLC
Midwest Restaurant Holdings, LLC is a limited-service restaurant business in Horace, ND, classified under NAICS 722513. The company financed real estate or equipment through an SBA 504 loan with a $1,147,000 SBA portion, approved January 13, 2024, through First International Bank and Trust with Dakota Business Lending as the certified development company.
SBA 504 loan, approved Jan 13, 2024
$1,147,000 SBA portionCDC: Dakota Business Lending20 years termStatus not reported (SBA exemption)Loan details
- SBA (CDC) portion
- $1,147,000
- Bank portion
- $1,329,036
- Estimated project size
- $2,751,151 (estimated)
- Estimated owner equity
- $275,115 (estimated, about 10% of the project)
- Bank lender
- First International Bank and Trust, Watford City, ND
- Processing method
- 504 Refinancing: refinances existing business debt
- Term
- 20 years (240 months)
- Estimated maturity
- January 13, 2044 (estimated, approval date plus term)
- First disbursement
- May 15, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 18
- Business type
- Corporation
- NAICS
- 722513, Limited-Service Restaurants
- Franchise
- DQ Grill & Chill Operating Agreement (American Dairy Queen)
- Project location
- Cass County, ND
- SBA district office
- North Dakota District Office
- Congressional district
- ND-0
- Collateral
- Yes
Estimated share of project by source
Bank 48% SBA (CDC) 42% Owner 10%
- Larger than 25% of expansion loans in Limited-Service Restaurants on this site.
- Average expansion loan in Limited-Service Restaurants: $1,507,672.
- Average expansion loan in North Dakota: $1,912,640.
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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