Riverside Family Entertainment, LLC
Riverside Family Entertainment, LLC is a business in Metairie, Louisiana, in the All Other Amusement and Recreation Industries category (NAICS 713990), and is a franchise operating under the Luv 2 Play name. The company was financed with an SBA 7(a) loan for a change of ownership of $812,600, approved February 10, 2024, through American Bank.
SBA 7(a) loan, change of ownership, approved Feb 10, 2024
$812,600 approvedLender: American Bank10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $812,600
- SBA-guaranteed amount
- $609,450 (75% of the approval)
- Lender
- American Bank, Covington, LA
- Processing method
- Standard 7(a): the lender submits the application for SBA review
- Initial interest rate
- 11.25%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- February 10, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $11,309 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Apr 16, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 13
- Business type
- Corporation
- NAICS
- 713990, All Other Amusement and Recreation Industries
- Franchise
- Luv 2 Play
- Project location
- Jefferson County, LA
- SBA district office
- Louisiana District Office
- Congressional district
- LA-01
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 25% of acquisition loans in All Other Amusement and Recreation Industries on this site.
- Average acquisition loan in All Other Amusement and Recreation Industries: $1,649,888.
- Average acquisition loan in Louisiana: $1,702,056.
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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