Main Street Registry

St Sharbel Investments Inc.

Alpena, MI · Supermarkets and Other Grocery Retailers (except Convenience Retailers) · NAICS 445110

St Sharbel Investments Inc. is a grocery retailer in Alpena, Michigan, classified under supermarkets and other grocery retailers (except convenience retailers). The business was financed with an SBA 7(a) loan for a change of ownership of $3.4 million, made by The Huntington National Bank with approval dated June 6, 2024.

SBA 7(a) loan, change of ownership, approved Jun 6, 2024

$3,407,400 approvedLender: The Huntington National Bank16 years termStatus not reported (SBA exemption)Loan details
Gross approval
$3,407,400
SBA-guaranteed amount
$2,555,550 (75% of the approval)
Lender
The Huntington National Bank, Columbus, OH
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
8.25%, fixed
Term
16 years (192 months)
Estimated maturity
June 6, 2040 (estimated, approval date plus term)
Estimated monthly payment
$32,018 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Jun 13, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
36
Business type
Corporation
NAICS
445110, Supermarkets and Other Grocery Retailers (except Convenience Retailers)
Project location
Alpena County, MI
SBA district office
Michigan District Office
Congressional district
MI-01
Collateral
Yes
Guaranteed portion sold on secondary market
Not reported as sold
Revolving line of credit
No (term loan)
  • Larger than 85% 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 Michigan: $1,645,728.

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