Main Street Registry

Xo Bar LLC

Elkins Park, PA · Beer, Wine, and Liquor Retailers · NAICS 445320

Xo Bar LLC is a beer, wine, and liquor retailer located in Elkins Park, PA. The business was financed with an SBA 7(a) loan for a change of ownership, in the amount of $675,000, approved on August 15, 2024 by PromiseOne Bank.

SBA 7(a) loan, change of ownership, approved Aug 15, 2024

$675,000 approvedLender: PromiseOne Bank10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$675,000
SBA-guaranteed amount
$506,250 (75% of the approval)
Lender
PromiseOne Bank, Duluth, GA
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
9.75%, variable
Term
10 years (120 months)
Estimated maturity
August 15, 2034 (estimated, approval date plus term)
Estimated monthly payment
$8,827 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Feb 5, 2025
Loan status
Status not reported (SBA exemption)
Jobs supported
2
Business type
Corporation
NAICS
445320, Beer, Wine, and Liquor Retailers
Project location
Montgomery County, PA
SBA district office
Philadelphia District Office
Congressional district
PA-03
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 20% of acquisition loans in Beer, Wine, and Liquor Retailers on this site.
  • Average acquisition loan in Beer, Wine, and Liquor Retailers: $1,337,023.
  • Average acquisition loan in Pennsylvania: $1,636,965.

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 Pennsylvania