Main Street Registry

Russi Food Group Inc

La Palma, CA · Full-Service Restaurants · NAICS 722511

Russi Food Group Inc is a full-service restaurant business in La Palma, CA, in the full-service restaurants industry. The business was financed with an SBA 7(a) loan for a change of ownership, with a loan amount of $500,000, approved on January 25, 2024, through Cache Valley Bank.

SBA 7(a) loan, change of ownership, approved Jan 25, 2024

$500,000 approvedLender: Cache Valley Bank128 months termStatus not reported (SBA exemption)Loan details
Gross approval
$500,000
SBA-guaranteed amount
$375,000 (75% of the approval)
Lender
Cache Valley Bank, Logan, UT
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
10.5%, variable
Term
10 years, 8 months (128 months)
Estimated maturity
September 25, 2034 (estimated, approval date plus term)
Estimated monthly payment
$6,509 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Feb 16, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
24
Business type
Corporation
NAICS
722511, Full-Service Restaurants
Project location
Orange County, CA
SBA district office
Santa Ana District Office
Congressional district
CA-38
Collateral
Yes
Guaranteed portion sold on secondary market
Not reported as sold
Revolving line of credit
No (term loan)
  • Average acquisition loan in Full-Service Restaurants: $1,319,601.
  • 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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Same industry in California