1240 Park Inc
1240 Park Inc is located in Palmer, MA, and the SBA lists its industry as Beer, Wine, and Liquor Retailers. It was approved for an SBA 7(a) loan of $792,000 for a change of ownership on July 18, 2024.
SBA 7(a) loan, change of ownership, approved Jul 18, 2024
- Gross approval
- $792,000
- SBA-guaranteed amount
- $594,000 (75% of the approval)
- Lender
- Rockland Trust Company, Rockland, MA
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 7.5%, fixed
- Term
- 10 years (120 months)
- Estimated maturity
- July 18, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $9,401 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jul 26, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 5
- Business type
- Corporation
- NAICS
- 445320, Beer, Wine, and Liquor Retailers
- Project location
- Hampden County, MA
- SBA district office
- Massachusetts District Office
- Congressional district
- MA-01
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 32% of acquisition loans in Beer, Wine, and Liquor Retailers on this site.
- Average acquisition loan in Beer, Wine, and Liquor Retailers: $1,337,023.
- Average acquisition loan in Massachusetts: $1,643,977.
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 Massachusetts
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