Main Street Registry

Sandy River Shop 'n Save Inc

Phillips, ME · Supermarkets and Other Grocery Retailers (except Convenience Retailers) · NAICS 445110

Sandy River Shop 'n Save Inc, located in Phillips, Maine, operates in the supermarkets and other grocery retailers industry. It was financed with an SBA 7(a) loan for a change of ownership of $2.72 million, approved on December 28, 2023, through Maine Community Bank.

SBA 7(a) loan, change of ownership, approved Dec 28, 2023

$2,720,000 approvedLender: Maine Community Bank25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$2,720,000
SBA-guaranteed amount
$2,040,000 (75% of the approval)
Lender
Maine Community Bank, Portland, ME
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
7.5%, fixed
Term
25 years (300 months)
Estimated maturity
December 28, 2048 (estimated, approval date plus term)
Estimated monthly payment
$20,101 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Jan 16, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
48
Business type
Corporation
NAICS
445110, Supermarkets and Other Grocery Retailers (except Convenience Retailers)
Franchise
Hannaford Bros. Co., LLC - Master Agreement
Project location
Franklin County, ME
SBA district office
Maine District Office
Congressional district
ME-02
Collateral
Yes
Guaranteed portion sold on secondary market
Not reported as sold
Revolving line of credit
No (term loan)
  • Larger than 76% 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 Maine: $1,448,582.

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.

Is this your company? Claim or correct this listing. See Corrections.

Same industry in Maine