Main Street Registry

The Market at Edgewood

Palo Alto, CA · Supermarkets and Other Grocery Retailers (except Convenience Retailers) · NAICS 445110

The Market at Edgewood is a supermarket and grocery retailer in Palo Alto, California, classified under NAICS 445110 (Supermarkets and Other Grocery Retailers, except Convenience Retailers). The business was financed with an SBA 7(a) loan for a change of ownership of $1.8 million, approved by Open Bank on August 26, 2024. The loan was reported with 42 jobs.

SBA 7(a) loan, change of ownership, approved Aug 26, 2024

$1,800,000 approvedLender: Open Bank10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$1,800,000
SBA-guaranteed amount
$1,350,000 (75% of the approval)
Lender
Open Bank, Los Angeles, CA
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
10.5%, variable
Term
10 years (120 months)
Estimated maturity
August 26, 2034 (estimated, approval date plus term)
Estimated monthly payment
$24,288 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Sep 27, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
42
Business type
Corporation
NAICS
445110, Supermarkets and Other Grocery Retailers (except Convenience Retailers)
Project location
San Mateo County, CA
SBA district office
San Francisco District Office
Congressional district
CA-14
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 64% 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 California: $1,688,228.

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 California