Main Street Registry

Somi Market Inc

Los Angeles, CA · Supermarkets and Other Grocery Retailers (except Convenience Retailers) · NAICS 445110

Somi Market Inc, located in Los Angeles, CA, operates in the supermarkets and other grocery retailers industry (NAICS 445110). The company was financed with an SBA 7(a) loan for a change of ownership totaling $860,000, approved on July 18, 2025, through Shinhan Bank America.

SBA 7(a) loan, change of ownership, approved Jul 18, 2025

$860,000 approvedLender: Shinhan Bank America10 years termPaid in fullLoan details
Gross approval
$860,000
SBA-guaranteed amount
$645,000 (75% of the approval)
Lender
Shinhan Bank America, New York, NY
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
9%, variable
Term
10 years (120 months)
Estimated maturity
July 18, 2035 (estimated, approval date plus term)
Estimated monthly payment
$10,894 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Jul 28, 2025
Loan status
Paid in full
Jobs supported
5
Business type
Corporation
NAICS
445110, Supermarkets and Other Grocery Retailers (except Convenience Retailers)
Project location
Los Angeles County, CA
SBA district office
Los Angeles District Office
Congressional district
CA-37
Collateral
Yes
Guaranteed portion sold on secondary market
Not reported as sold
Revolving line of credit
No (term loan)
  • Larger than 30% 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 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.

Is this your company? Claim or correct this listing. See Corrections.

Same industry in California