Nipps Burger, LLC
Nipps Burger, LLC is located in Longview, WA, and the SBA lists its industry as Limited-Service Restaurants. It was approved for an SBA 7(a) loan of $500,000 for a change of ownership on July 25, 2024.
SBA 7(a) loan, change of ownership, approved Jul 25, 2024
- Gross approval
- $500,000
- SBA-guaranteed amount
- $375,000 (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
- 10 years (120 months)
- Estimated maturity
- July 25, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $6,677 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Aug 14, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 30
- Business type
- Corporation
- NAICS
- 722513, Limited-Service Restaurants
- Project location
- Cowlitz County, WA
- SBA district office
- Portland District Office
- Congressional district
- WA-03
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Limited-Service Restaurants: $1,303,660.
- Average acquisition loan in Washington: $1,784,595.
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 Washington
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