Main Street Registry

Cheema Retail Market Inc

Lake Elsinore, CA · Meat Retailers · NAICS 445240

Cheema Retail Market Inc is a meat retailer located in Lake Elsinore, California, under NAICS code 445240. The company was financed with an SBA 7(a) loan for a change of ownership, with a loan amount of $525,000 from Southwestern National Bank, approved on November 13, 2024.

SBA 7(a) loan, change of ownership, approved Nov 13, 2024

$525,000 approvedLender: Southwestern National Bank10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$525,000
SBA-guaranteed amount
$393,750 (75% of the approval)
Lender
Southwestern National Bank, Houston, TX
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
10%, variable
Term
10 years (120 months)
Estimated maturity
November 13, 2034 (estimated, approval date plus term)
Estimated monthly payment
$6,938 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Jan 9, 2025
Loan status
Status not reported (SBA exemption)
Jobs supported
2
Business type
Corporation
NAICS
445240, Meat Retailers
Project location
Riverside County, CA
SBA district office
Santa Ana District Office
Congressional district
CA-42
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 4% of acquisition loans in Meat Retailers on this site.
  • Average acquisition loan in Meat Retailers: $1,128,604.
  • Average acquisition loan in California: $1,688,228.

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 California