Main Street Registry

Sul Enterprises Inc

Federal Way, WA · Full-Service Restaurants · NAICS 722511

Sul Enterprises Inc, located in Federal Way, WA, operates in the full-service restaurants industry (NAICS 722511). The business was financed with an SBA 7(a) loan for a change of ownership totaling $2.7 million, approved on December 8, 2023, through Gesa CU.

SBA 7(a) loan, change of ownership, approved Dec 8, 2023

$2,700,000 approvedLender: Gesa CU25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$2,700,000
SBA-guaranteed amount
$2,025,000 (75% of the approval)
Lender
Gesa CU, Richland, WA
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
9.75%, variable
Term
25 years (300 months)
Estimated maturity
December 8, 2048 (estimated, approval date plus term)
Estimated monthly payment
$24,061 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Dec 31, 2023
Loan status
Status not reported (SBA exemption)
Jobs supported
12
Business type
Corporation
NAICS
722511, Full-Service Restaurants
Project location
King County, WA
SBA district office
Seattle District Office
Congressional district
WA-08
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 90% of acquisition loans in Full-Service Restaurants on this site.
  • Average acquisition loan in Full-Service Restaurants: $1,319,601.
  • Average acquisition loan in Washington: $1,784,595.

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 Washington