Main Street Registry

Mini Mart Specialty Meats, LLC

Detroit, MI · Supermarkets and Other Grocery Retailers (except Convenience Retailers) · NAICS 445110

Mini Mart Specialty Meats, LLC is a supermarket and grocery retailer located in Detroit, Michigan, in the industry described as 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 $5 million approved through Fifth Third Bank on September 20, 2024.

SBA 7(a) loan, change of ownership, approved Sep 20, 2024

$5,000,000 approvedLender: Fifth Third Bank13 years termStatus not reported (SBA exemption)Loan details
Gross approval
$5,000,000
SBA-guaranteed amount
$3,750,000 (75% of the approval)
Lender
Fifth Third Bank, Cincinnati, OH
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
7.89%, fixed
Term
13 years (156 months)
Estimated maturity
September 20, 2037 (estimated, approval date plus term)
Estimated monthly payment
$51,347 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Sep 26, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
25
Business type
Corporation
NAICS
445110, Supermarkets and Other Grocery Retailers (except Convenience Retailers)
Project location
Wayne County, MI
SBA district office
Michigan District Office
Congressional district
MI-13
Collateral
Yes
Guaranteed portion sold on secondary market
Not reported as sold
Revolving line of credit
No (term loan)
  • Larger than 97% 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 Michigan: $1,645,728.

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 Michigan