Main Street Registry

Speed Cigar and Grocery

Renton, WA · Convenience Retailers · NAICS 445131

Speed Cigar and Grocery is a convenience retail business in Renton, Washington, classified under the NAICS industry code 445131 (Convenience Retailers). The company was financed with an SBA 7(a) loan for a change of ownership of $650,000, approved on May 30, 2025, through East West Bank.

SBA 7(a) loan, change of ownership, approved May 30, 2025

$650,000 approvedLender: East West Bank10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$650,000
SBA-guaranteed amount
$487,500 (75% of the approval)
Lender
East West Bank, Pasadena, CA
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
9.5%, variable
Term
10 years (120 months)
Estimated maturity
May 30, 2035 (estimated, approval date plus term)
Estimated monthly payment
$8,411 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Aug 1, 2025
Loan status
Status not reported (SBA exemption)
Jobs supported
3
Business type
Corporation
NAICS
445131, Convenience Retailers
Project location
King County, WA
SBA district office
Seattle District Office
Congressional district
WA-08
Collateral
Yes
Guaranteed portion sold on secondary market
Not reported as sold
Revolving line of credit
No (term loan)
  • Larger than 18% of acquisition loans in Convenience Retailers on this site.
  • Average acquisition loan in Convenience Retailers: $1,185,102.
  • 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