Main Street Registry

Primo Market Orange Cove, Inc

Lake Isabella, CA · Gasoline Stations with Convenience Stores · NAICS 457110

Primo Market Orange Cove, Inc is a gasoline station with convenience store business located in Lake Isabella, CA, classified under NAICS 457110. The company was financed with an SBA 7(a) loan for a change of ownership in the amount of $2,230,000, approved on August 28, 2024 by Commonwealth Business Bank.

SBA 7(a) loan, change of ownership, approved Aug 28, 2024

$2,230,000 approvedLender: Commonwealth Business Bank25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$2,230,000
SBA-guaranteed amount
$1,672,500 (75% of the approval)
Lender
Commonwealth Business Bank, Los Angeles, CA
Processing method
Standard 7(a): the lender submits the application for SBA review
Initial interest rate
9.75%, variable
Term
25 years (300 months)
Estimated maturity
August 28, 2049 (estimated, approval date plus term)
Estimated monthly payment
$19,872 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Nov 7, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
14
Business type
Corporation
NAICS
457110, Gasoline Stations with Convenience Stores
Franchise
Stuart's Petroleum (Mobil) Contract of Sale
Project location
Kern County, CA
SBA district office
Fresno District Office
Congressional district
CA-23
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 61% 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 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