Main Street Registry

Multani Investments V Inc

Weidman, MI · Gasoline Stations with Convenience Stores · NAICS 457110

Multani Investments V Inc, located in Weidman, Michigan, operates in the gasoline stations with convenience stores industry (NAICS 457110). The business was financed with an SBA 7(a) loan for a change of ownership of $1.74 million, approved on June 17, 2024 by Isabella Bank.

SBA 7(a) loan, change of ownership, approved Jun 17, 2024

$1,740,000 approvedLender: Isabella Bank20 years termStatus not reported (SBA exemption)Loan details
Gross approval
$1,740,000
SBA-guaranteed amount
$1,305,000 (75% of the approval)
Lender
Isabella Bank, Mount Pleasant, MI
Processing method
Standard 7(a): the lender submits the application for SBA review
Initial interest rate
7.85%, fixed
Term
20 years (240 months)
Estimated maturity
June 17, 2044 (estimated, approval date plus term)
Estimated monthly payment
$14,392 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Jul 23, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
9
Business type
Corporation
NAICS
457110, Gasoline Stations with Convenience Stores
Project location
Isabella County, MI
SBA district office
Michigan District Office
Congressional district
MI-04
Collateral
Yes
Guaranteed portion sold on secondary market
Not reported as sold
Revolving line of credit
No (term loan)
  • Larger than 47% 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 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