GEN Restaurant Group secures $20M revolving credit facility with PCB Bank

GEN Restaurant Group, Inc.

Facility provides $20.0M revolving line of credit, maturing September 25, 2024.
Interest rate is Prime plus 0.25% per annum; initial rate 8.75%.
Loan is secured by substantially all Company assets; subsidiaries guarantee obligations.
Proceeds to be used for growth initiatives and general working capital.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

GEN Restaurant Group, Inc. entered into Business Loan Agreement with PCB Bank valued at $20.0 million revolving line of credit (effective 2023-09-25).

Action: entry
Agreement: credit facility
Counterparty: PCB Bank
Value: $20.0 million revolving line of credit
Effective: 2023-09-25

Exact text from the filing

On September 29, 2023, GEN Restaurant Group, Inc. (the "Company") entered into a Business Loan Agreement ("the Loan Agreement") with PCB Bank (“PCB”), effective as of September 25, 2023. The Loan Agreement provides the Company a $20.0 million revolving line of credit.

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GEN Restaurant Group, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-23-052048

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