Main Street Registry

Food Mart One, Inc

Bakersfield, CA · Gasoline Stations with Convenience Stores · NAICS 457110

Food Mart One, Inc is a gasoline station with convenience store business in Bakersfield, California. It was financed with an SBA 7(a) loan for a change of ownership of $3.28 million, approved on March 24, 2024 by Customers Bank.

SBA 7(a) loan, change of ownership, approved Mar 24, 2024

$3,280,000 approvedLender: Customers Bank25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$3,280,000
SBA-guaranteed amount
$2,460,000 (75% of the approval)
Lender
Customers Bank, Malvern, PA
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
9.25%, variable
Term
25 years (300 months)
Estimated maturity
March 24, 2049 (estimated, approval date plus term)
Estimated monthly payment
$28,089 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Jun 4, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
13
Business type
Corporation
NAICS
457110, Gasoline Stations with Convenience Stores
Project location
Kern County, CA
SBA district office
Fresno District Office
Congressional district
CA-21
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 77% 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 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