Michael's Salumeria LLC
Michael's Salumeria LLC is a business in Lyndhurst, New Jersey, classified under the industry All Other Specialty Food Retailers. It was financed with an SBA 7(a) loan for a change of ownership of $1,430,000, approved on February 24, 2026 by Peapack Private Bank and Trust.
SBA 7(a) loan, change of ownership, approved Feb 24, 2026
$1,430,000 approvedLender: Peapack Private Bank and Trust25 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $1,430,000
- SBA-guaranteed amount
- $1,072,500 (75% of the approval)
- Lender
- Peapack Private Bank and Trust, Bedminster, NJ
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 8.75%, variable
- Term
- 25 years (300 months)
- Estimated maturity
- February 24, 2051 (estimated, approval date plus term)
- Estimated monthly payment
- $11,757 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Mar 13, 2026
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 6
- Business type
- Corporation
- NAICS
- 445298, All Other Specialty Food Retailers
- Project location
- Bergen County, NJ
- SBA district office
- New Jersey District Office
- Congressional district
- NJ-09
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 57% of acquisition loans in All Other Specialty Food Retailers on this site.
- Average acquisition loan in All Other Specialty Food Retailers: $1,581,762.
- Average acquisition loan in New Jersey: $1,626,307.
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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