Main Street Registry

Vega North Enterprises LLC

San Antonio, TX · Limited-Service Restaurants · NAICS 722513

Vega North Enterprises LLC is a limited-service restaurant business in San Antonio, Texas, classified under NAICS 722513, and it operates as a Schlotzsky's franchise. The company was financed with an SBA 7(a) loan for a change of ownership, with a loan amount of $3,995,000 from Gulf Coast Bank and Trust Company approved on April 22, 2024.

SBA 7(a) loan, change of ownership, approved Apr 22, 2024

$3,995,000 approvedLender: Gulf Coast Bank and Trust Company10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$3,995,000
SBA-guaranteed amount
$2,996,250 (75% of the approval)
Lender
Gulf Coast Bank and Trust Company, New Orleans, LA
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
10.75%, variable
Term
10 years (120 months)
Estimated maturity
April 22, 2034 (estimated, approval date plus term)
Estimated monthly payment
$54,467 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
May 13, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
144
Business type
Corporation
NAICS
722513, Limited-Service Restaurants
Franchise
Schlotzsky's
Project location
Bexar County, TX
SBA district office
San Antonio District Office
Congressional district
TX-21
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 97% of acquisition loans in Limited-Service Restaurants on this site.
  • Average acquisition loan in Limited-Service Restaurants: $1,303,660.
  • Average acquisition loan in Texas: $1,944,682.

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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