Erica Mall
Erica Mall, located in Montross, Virginia, operates in the gasoline stations with convenience stores industry (NAICS 457110). The company was financed with an SBA 7(a) loan for a change of ownership, approved October 6, 2023, in the amount of $566,300 through Celtic Bank Corporation. The loan reported 6 jobs.
SBA 7(a) loan, change of ownership, approved Oct 6, 2023
$566,300 approvedLender: Celtic Bank Corporation25 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $566,300
- SBA-guaranteed amount
- $424,725 (75% of the approval)
- Lender
- Celtic Bank Corporation, Salt Lake City, UT
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10.75%, variable
- Term
- 25 years (300 months)
- Estimated maturity
- October 6, 2048 (estimated, approval date plus term)
- Estimated monthly payment
- $5,448 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Oct 30, 2023
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 6
- Business type
- Corporation
- NAICS
- 457110, Gasoline Stations with Convenience Stores
- Project location
- Westmoreland County, VA
- SBA district office
- Richmond District Office
- Congressional district
- VA-01
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 4% of acquisition loans in Gasoline Stations with Convenience Stores on this site.
- Average acquisition loan in Gasoline Stations with Convenience Stores: $2,177,273.
- Average acquisition loan in Virginia: $1,860,760.
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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