Main Street Registry

5501 Abercorn St LLC

Savannah, GA · Supermarkets and Other Grocery Retailers (except Convenience Retailers) · NAICS 445110

5501 Abercorn St LLC is a supermarket and grocery retailer located in Savannah, Georgia, in the supermarkets and other grocery retailers industry. The company financed real estate or equipment through an SBA 504 loan of $5,000,000, approved on October 5, 2023, through Celtic Bank Corporation with Southern Georgia Area Development Corporation as the certified development company. The loan supports 55 jobs.

SBA 504 loan, approved Oct 5, 2023

$5,000,000 SBA portionCDC: Southern Georgia Area Development Corporation25 years termStatus not reported (SBA exemption)Loan details
SBA (CDC) portion
$5,000,000
Bank portion
$6,291,600
Estimated project size
$12,546,222 (estimated)
Estimated owner equity
$1,254,622 (estimated, about 10% of the project)
Bank lender
Celtic Bank Corporation, Salt Lake City, UT
CDC
Southern Georgia Area Development Corporation
Processing method
504 Basic: standard SBA processing through a CDC
Term
25 years (300 months)
Estimated maturity
October 5, 2048 (estimated, approval date plus term)
First disbursement
Jul 17, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
55
Business type
Corporation
NAICS
445110, Supermarkets and Other Grocery Retailers (except Convenience Retailers)
Project location
Chatham County, GA
SBA district office
Georgia District Office
Congressional district
GA-1
Collateral
Yes

Estimated share of project by source

Bank 50% SBA (CDC) 40% Owner 10%

  • Larger than 87% of expansion loans in Supermarkets and Other Grocery Retailers (except Convenience Retailers) on this site.
  • Average expansion loan in Supermarkets and Other Grocery Retailers (except Convenience Retailers): $2,388,397.
  • Average expansion loan in Georgia: $2,201,121.

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 Georgia