Main Street Registry

The Palms Banquet Hall & Catering

Stockton, CA · Caterers · NAICS 722320

The Palms Banquet Hall & Catering is a caterer located in Stockton, California, classified under NAICS code 722320. The business was financed with an SBA 7(a) loan for a change of ownership totaling $5 million, approved through Open Bank with an approval date of September 17, 2026.

SBA 7(a) loan, change of ownership, approved Sep 17, 2026

$5,000,000 approvedLender: Open Bank25 years termCommitted, not fully disbursedLoan details
Gross approval
$5,000,000
SBA-guaranteed amount
$3,750,000 (75% of the approval)
Lender
Open Bank, Los Angeles, CA
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
7.75%, variable
Term
25 years (300 months)
Estimated maturity
September 17, 2051 (estimated, approval date plus term)
Estimated monthly payment
$37,766 Estimated payment at the initial rate over the full term; actual terms vary.
Loan status
Committed, not fully disbursed
Jobs supported
5
Business type
Corporation
NAICS
722320, Caterers
Project location
San Joaquin County, CA
SBA district office
Sacramento District Office
Congressional district
CA-09
Collateral
Yes
Guaranteed portion sold on secondary market
Not reported as sold
Revolving line of credit
No (term loan)
  • Larger than 91% of acquisition loans in Caterers on this site.
  • Average acquisition loan in Caterers: $2,164,405.
  • 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