Rassel Wine & Spirits, Inc.
Rassel Wine & Spirits, Inc. is located in Mounds View, MN, and the SBA lists its industry as Beer, Wine, and Liquor Retailers. It was approved for an SBA 7(a) loan of $1,230,000 for a change of ownership on March 7, 2024.
SBA 7(a) loan, change of ownership, approved Mar 7, 2024
- Gross approval
- $1,230,000
- SBA-guaranteed amount
- $922,500 (75% of the approval)
- Lender
- Happen Bank, Lehi, UT
- Processing method
- Standard 7(a): the lender submits the application for SBA review
- Initial interest rate
- 9.85%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- March 7, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $16,153 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Mar 14, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 14
- Business type
- Corporation
- NAICS
- 445320, Beer, Wine, and Liquor Retailers
- Project location
- Ramsey County, MN
- SBA district office
- Minnesota District Office
- Congressional district
- MN-04
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 64% of acquisition loans in Beer, Wine, and Liquor Retailers on this site.
- Average acquisition loan in Beer, Wine, and Liquor Retailers: $1,337,023.
- Average acquisition loan in Minnesota: $1,482,119.
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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