Fernandez Group Supermarket LLC
Fernandez Group Supermarket LLC is a supermarket and grocery retailer in Providence, Rhode Island, classified under NAICS 445110 (Supermarkets and Other Grocery Retailers, except Convenience Retailers). The business was financed with an SBA 7(a) loan for a change of ownership, with a loan amount of $720,000 approved by The Washington Trust Company of Westerly on March 20, 2025.
SBA 7(a) loan, change of ownership, approved Mar 20, 2025
$720,000 approvedLender: The Washington Trust Company of Westerly10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $720,000
- SBA-guaranteed amount
- $540,000 (75% of the approval)
- Lender
- The Washington Trust Company of Westerly, Westerly, RI
- Processing method
- Standard 7(a): the lender submits the application for SBA review
- Initial interest rate
- 10.5%, fixed
- Term
- 10 years (120 months)
- Estimated maturity
- March 20, 2035 (estimated, approval date plus term)
- Estimated monthly payment
- $9,715 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Aug 5, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 12
- Business type
- Corporation
- NAICS
- 445110, Supermarkets and Other Grocery Retailers (except Convenience Retailers)
- Project location
- Providence County, RI
- SBA district office
- Rhode Island District Office
- Congressional district
- RI-01
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 13% 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 Rhode Island: $1,739,073.
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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