Main Street Registry

Northshore Market

Federal Way, WA · Gasoline Stations with Convenience Stores · NAICS 457110

Northshore Market is a gasoline station with convenience store in Federal Way, WA, classified under NAICS 457110. The company was financed with an SBA 7(a) loan for a change of ownership totaling $679,000, approved on September 17, 2024 by Hanmi Bank.

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

$679,000 approvedLender: Hanmi Bank10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$679,000
SBA-guaranteed amount
$509,250 (75% of the approval)
Lender
Hanmi Bank, Los Angeles, CA
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
10.5%, variable
Term
10 years (120 months)
Estimated maturity
September 17, 2034 (estimated, approval date plus term)
Estimated monthly payment
$9,162 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
6
Business type
Corporation
NAICS
457110, Gasoline Stations with Convenience Stores
Franchise
Christensen Inc. - Product Sales Agreement
Project location
King County, WA
SBA district office
Seattle District Office
Congressional district
WA-09
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 7% 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 Washington: $1,784,595.

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 Washington