Main Street Registry

Mgs Brothers Inc

Compton, CA · Beer, Wine, and Liquor Retailers · NAICS 445320

Mgs Brothers Inc is located in Compton, CA, and the SBA lists its industry as Beer, Wine, and Liquor Retailers. It was approved for an SBA 7(a) loan of $1,222,800 for a change of ownership on September 16, 2024.

SBA 7(a) loan, change of ownership, approved Sep 16, 2024

Gross approval
$1,222,800
SBA-guaranteed amount
$917,100 (75% of the approval)
Lender
Wells Fargo Bank National Association, Sioux Falls, SD
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
6.95%, fixed
Term
25 years (300 months)
Estimated maturity
September 16, 2049 (estimated, approval date plus term)
Estimated monthly payment
$8,604 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Oct 1, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
4
Business type
Corporation
NAICS
445320, Beer, Wine, and Liquor Retailers
Project location
Los Angeles County, CA
SBA district office
Los Angeles District Office
Congressional district
CA-44
Collateral
Yes
Guaranteed portion sold on secondary market
Not reported as sold
Revolving line of credit
No (term loan)

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