Main Street Registry

Fairmount Grocery; Fairmount Motel

Port Angeles, WA · Gasoline Stations with Convenience Stores · NAICS 457110

Fairmount Grocery; Fairmount Motel is located in Port Angeles, Washington, in the gasoline stations with convenience stores industry (NAICS 457110). The business was financed with an SBA 7(a) loan for a change of ownership of $3.89 million, with Hanmi Bank as the lender, approved on March 13, 2025.

SBA 7(a) loan, change of ownership, approved Mar 13, 2025

$3,890,000 approvedLender: Hanmi Bank25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$3,890,000
SBA-guaranteed amount
$2,917,500 (75% of the approval)
Lender
Hanmi Bank, Los Angeles, CA
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
8.5%, variable
Term
25 years (300 months)
Estimated maturity
March 13, 2050 (estimated, approval date plus term)
Estimated monthly payment
$31,323 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Mar 24, 2025
Loan status
Status not reported (SBA exemption)
Jobs supported
7
Business type
Corporation
NAICS
457110, Gasoline Stations with Convenience Stores
Project location
Clallam County, WA
SBA district office
Seattle District Office
Congressional district
WA-06
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 86% 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 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