Credence Holdings Coporation
Credence Holdings Coporation is a supermarket and grocery retailer located in Backus, Minnesota, classified under NAICS 445110. The company was financed with an SBA 7(a) loan for a change of ownership of $3.5 million, approved on December 19, 2025, by Associated Bank National Association.
SBA 7(a) loan, change of ownership, approved Dec 19, 2025
$3,477,200 approvedLender: Associated Bank National Association10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $3,477,200
- SBA-guaranteed amount
- $2,607,900 (75% of the approval)
- Lender
- Associated Bank National Association, Green Bay, WI
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 7.5%, fixed
- Term
- 10 years (120 months)
- Estimated maturity
- December 19, 2035 (estimated, approval date plus term)
- Estimated monthly payment
- $41,275 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jan 6, 2026
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 15
- Business type
- Corporation
- NAICS
- 445110, Supermarkets and Other Grocery Retailers (except Convenience Retailers)
- Project location
- Cass County, MN
- SBA district office
- Minnesota District Office
- Congressional district
- MN-08
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 86% of acquisition loans in Supermarkets and Other Grocery Retailers (except Convenience Retailers) on this site.
- Average acquisition loan in Supermarkets and Other Grocery Retailers (except Convenience Retailers): $1,791,981.
- Average acquisition loan in Minnesota: $1,482,119.
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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