Main Street Registry

Jai Ma Padmavati LLC

Shelby, NC · Gasoline Stations with Convenience Stores · NAICS 457110

Jai Ma Padmavati LLC is a gasoline station and convenience store business in Shelby, North Carolina, classified under NAICS code 457110. The company was financed with an SBA 7(a) loan for a change of ownership in the amount of $550,000, approved on December 27, 2024, by Metro City Bank.

SBA 7(a) loan, change of ownership, approved Dec 27, 2024

$550,000 approvedLender: Metro City Bank25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$550,000
SBA-guaranteed amount
$412,500 (75% of the approval)
Lender
Metro City Bank, Doraville, GA
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
8.75%, variable
Term
25 years (300 months)
Estimated maturity
December 27, 2049 (estimated, approval date plus term)
Estimated monthly payment
$4,522 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Dec 31, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
3
Business type
Corporation
NAICS
457110, Gasoline Stations with Convenience Stores
Project location
Cleveland County, NC
SBA district office
North Carolina District Office
Congressional district
NC-05
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 3% 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 North Carolina: $1,952,444.

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 North Carolina