Main Street Registry

Palms Liquor

Detroit, MI · Beer, Wine, and Liquor Retailers · NAICS 445320

Palms Liquor is located in Detroit, MI, and the SBA lists its industry as Beer, Wine, and Liquor Retailers. It was approved for an SBA 7(a) loan of $1,673,000 for a change of ownership on January 30, 2026.

SBA 7(a) loan, change of ownership, approved Jan 30, 2026

Gross approval
$1,673,000
SBA-guaranteed amount
$1,254,750 (75% of the approval)
Lender
United FCU, Saint Joseph, MI
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
9.25%, variable
Term
25 years (300 months)
Estimated maturity
January 30, 2051 (estimated, approval date plus term)
Estimated monthly payment
$14,327 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Feb 4, 2026
Loan status
Status not reported (SBA exemption)
Jobs supported
4
Business type
Corporation
NAICS
445320, Beer, Wine, and Liquor Retailers
Project location
Wayne County, MI
SBA district office
Michigan District Office
Congressional district
MI-13
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)

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