Main Street Registry

Rhinehart's Oyster Bar

Covington, GA · Full-Service Restaurants · NAICS 722511

Rhinehart's Oyster Bar, located in Covington, Georgia, operates in the full-service restaurants industry (NAICS 722511). The business was approved for an SBA 504 loan with an SBA portion of $3,075,000, which financed real estate or equipment through an SBA 504 loan, with a loan approval date of September 10, 2025, and a lender of SouthState Bank, National Association, through the CSRA Local Development Corporation.

SBA 504 loan, approved Sep 10, 2025

$3,075,000 SBA portionCDC: CSRA Local Development Corporation25 years termApproved, not yet fundedLoan details
SBA (CDC) portion
$3,075,000
Bank portion
$3,007,000
Estimated project size
$6,757,778 (estimated)
Estimated owner equity
$675,778 (estimated, about 10% of the project)
Bank lender
SouthState Bank, National Association, Winter Haven, FL
CDC
CSRA Local Development Corporation
Processing method
Accredited Lenders Program: CDC with an expedited SBA review
Term
25 years (300 months)
Estimated maturity
September 10, 2050 (estimated, approval date plus term)
Loan status
Approved, not yet funded
Jobs supported
43
Business type
Corporation
NAICS
722511, Full-Service Restaurants
Project location
Newton County, GA
SBA district office
Georgia District Office
Congressional district
GA-4
Collateral
Yes

Estimated share of project by source

Bank 44% SBA (CDC) 46% Owner 10%

  • Larger than 90% of expansion loans in Full-Service Restaurants on this site.
  • Average expansion loan in Full-Service Restaurants: $1,813,082.
  • Average expansion loan in Georgia: $2,201,121.

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 Georgia