Main Street Registry

Berville Market LLC

Berville, MI · Beer, Wine, and Liquor Retailers · NAICS 445320

Berville Market LLC, located in Berville, Michigan, is a beer, wine, and liquor retailer. The business was financed with an SBA 7(a) loan for a change of ownership totaling $750,000, approved by The Huntington National Bank on October 31, 2024.

SBA 7(a) loan, change of ownership, approved Oct 31, 2024

$750,000 approvedLender: The Huntington National Bank25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$750,000
SBA-guaranteed amount
$562,500 (75% of the approval)
Lender
The Huntington National Bank, Columbus, OH
Processing method
Standard 7(a): the lender submits the application for SBA review
Initial interest rate
10.75%, variable
Term
25 years (300 months)
Estimated maturity
October 31, 2049 (estimated, approval date plus term)
Estimated monthly payment
$7,216 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Nov 26, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
7
Business type
Corporation
NAICS
445320, Beer, Wine, and Liquor Retailers
Project location
Saint Clair County, MI
SBA district office
Michigan District Office
Congressional district
MI-10
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 27% 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 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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Same industry in Michigan