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Southwest Grill Southpoint LLC

Durham, NC · Limited-Service Restaurants · NAICS 722513

Southwest Grill Southpoint LLC is a limited-service restaurant located in Durham, North Carolina, in the Limited-Service Restaurants industry (NAICS 722513). The company was financed with an SBA 7(a) loan for a change of ownership in the amount of $1,134,000, with approval from The Fidelity Bank dated July 15, 2024.

SBA 7(a) loan, change of ownership, approved Jul 15, 2024

$1,134,000 approvedLender: The Fidelity Bank10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$1,134,000
SBA-guaranteed amount
$850,500 (75% of the approval)
Lender
The Fidelity Bank, Fuquay Varina, NC
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
10.75%, variable
Term
10 years (120 months)
Estimated maturity
July 15, 2034 (estimated, approval date plus term)
Estimated monthly payment
$15,461 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Aug 12, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
16
Business type
Corporation
NAICS
722513, Limited-Service Restaurants
Project location
Durham County, NC
SBA district office
North Carolina District Office
Congressional district
NC-02
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 57% of acquisition loans in Limited-Service Restaurants on this site.
  • Average acquisition loan in Limited-Service Restaurants: $1,303,660.
  • Average acquisition loan in North Carolina: $1,952,444.

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 North Carolina