Milky Honey Inc
Milky Honey Inc is located in Chino, CA, and the SBA lists its industry as Limited-Service Restaurants. It was approved for an SBA 7(a) loan of $1,520,000 for a change of ownership on November 24, 2023.
SBA 7(a) loan, change of ownership, approved Nov 24, 2023
- Gross approval
- $1,520,000
- SBA-guaranteed amount
- $1,140,000 (75% of the approval)
- Lender
- Hanmi Bank, Los Angeles, CA
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 9.25%, variable
- Term
- 25 years (300 months)
- Estimated maturity
- November 24, 2048 (estimated, approval date plus term)
- Estimated monthly payment
- $13,017 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
- 10
- Business type
- Corporation
- NAICS
- 722513, Limited-Service Restaurants
- Project location
- San Bernardino County, CA
- SBA district office
- Santa Ana District Office
- Congressional district
- CA-35
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 73% of acquisition loans in Limited-Service Restaurants on this site.
- Average acquisition loan in Limited-Service Restaurants: $1,303,660.
- Average acquisition loan in California: $1,688,228.
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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