The Onward Management Group LLC
The Onward Management Group LLC is located in Frisco, TX, and the SBA lists its industry as Limited-Service Restaurants. It was approved for an SBA 7(a) loan of $918,000 for a change of ownership on August 9, 2024.
SBA 7(a) loan, change of ownership, approved Aug 9, 2024
- Gross approval
- $918,000
- SBA-guaranteed amount
- $688,500 (75% of the approval)
- Lender
- First National Bank of Omaha, Omaha, NE
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 8.5%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- August 9, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $11,382 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Aug 16, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 31
- Business type
- Corporation
- NAICS
- 722513, Limited-Service Restaurants
- Franchise
- Marco's Pizza
- Project location
- Denton County, TX
- SBA district office
- Dallas / Ft Worth District Office
- Congressional district
- TX-03
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 45% of acquisition loans in Limited-Service Restaurants on this site.
- Average acquisition loan in Limited-Service Restaurants: $1,303,660.
- Average acquisition loan in Texas: $1,944,682.
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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