Sandy River Shop 'n Save Inc
Sandy River Shop 'n Save Inc, located in Phillips, Maine, operates in the supermarkets and other grocery retailers industry. It was financed with an SBA 7(a) loan for a change of ownership of $2.72 million, approved on December 28, 2023, through Maine Community Bank.
SBA 7(a) loan, change of ownership, approved Dec 28, 2023
$2,720,000 approvedLender: Maine Community Bank25 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $2,720,000
- SBA-guaranteed amount
- $2,040,000 (75% of the approval)
- Lender
- Maine Community Bank, Portland, ME
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 7.5%, fixed
- Term
- 25 years (300 months)
- Estimated maturity
- December 28, 2048 (estimated, approval date plus term)
- Estimated monthly payment
- $20,101 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jan 16, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 48
- Business type
- Corporation
- NAICS
- 445110, Supermarkets and Other Grocery Retailers (except Convenience Retailers)
- Franchise
- Hannaford Bros. Co., LLC - Master Agreement
- Project location
- Franklin County, ME
- SBA district office
- Maine District Office
- Congressional district
- ME-02
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 76% 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 Maine: $1,448,582.
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 Maine
- Nature's Way Market, South Berwick
- Lois' Natural Marketplace Inc, Scarborough
- ST Davies Corp, Sanford
- Mabel's Provisions LLC, Kennebunk