UP North Lanes and Sports Bar LLC
UP North Lanes and Sports Bar LLC is a bowling center located in Escanaba, Michigan, classified under the industry Bowling Centers. The company was financed with an SBA 7(a) loan for a change of ownership, in the amount of $900,000, through Baybank, with approval dated March 25, 2025.
SBA 7(a) loan, change of ownership, approved Mar 25, 2025
$900,000 approvedLender: Baybank25 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $900,000
- SBA-guaranteed amount
- $675,000 (75% of the approval)
- Lender
- Baybank, Gladstone, MI
- Processing method
- Standard 7(a): the lender submits the application for SBA review
- Initial interest rate
- 7.5%, fixed
- Term
- 25 years (300 months)
- Estimated maturity
- March 25, 2050 (estimated, approval date plus term)
- Estimated monthly payment
- $6,651 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jul 31, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 8
- Business type
- Corporation
- NAICS
- 713950, Bowling Centers
- Project location
- Delta County, MI
- SBA district office
- Michigan District Office
- Congressional district
- MI-01
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 12% of acquisition loans in Bowling Centers on this site.
- Average acquisition loan in Bowling Centers: $1,943,000.
- Average acquisition loan in Michigan: $1,645,728.
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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