Main Street Registry

Delta Express & Food Mart Inc

Phenix City, AL · Gasoline Stations with Convenience Stores · NAICS 457110

Delta Express & Food Mart Inc is a gasoline station with convenience store business located in Phenix City, Alabama. The company was financed with an SBA 7(a) loan for a change of ownership of $1 million, approved on October 3, 2024, through PromiseOne Bank.

SBA 7(a) loan, change of ownership, approved Oct 3, 2024

$1,000,000 approvedLender: PromiseOne Bank25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$1,000,000
SBA-guaranteed amount
$750,000 (75% of the approval)
Lender
PromiseOne Bank, Duluth, GA
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
9%, variable
Term
25 years (300 months)
Estimated maturity
October 3, 2049 (estimated, approval date plus term)
Estimated monthly payment
$8,392 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Nov 26, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
4
Business type
Corporation
NAICS
457110, Gasoline Stations with Convenience Stores
Project location
Lee County, AL
SBA district office
Alabama District Office
Congressional district
AL-03
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 21% of acquisition loans in Gasoline Stations with Convenience Stores on this site.
  • Average acquisition loan in Gasoline Stations with Convenience Stores: $2,177,273.
  • Average acquisition loan in Alabama: $1,764,717.

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 Alabama