Xo Bar LLC
Xo Bar LLC is located in Elkins Park, PA, and the SBA lists its industry as Beer, Wine, and Liquor Retailers. It was approved for an SBA 7(a) loan of $675,000 for a change of ownership on August 15, 2024.
SBA 7(a) loan, change of ownership, approved Aug 15, 2024
- Gross approval
- $675,000
- SBA-guaranteed amount
- $506,250 (75% of the approval)
- Lender
- PromiseOne Bank, Duluth, GA
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 9.75%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- August 15, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $8,827 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Feb 5, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 2
- Business type
- Corporation
- NAICS
- 445320, Beer, Wine, and Liquor Retailers
- Project location
- Montgomery County, PA
- SBA district office
- Philadelphia District Office
- Congressional district
- PA-03
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 20% 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 Pennsylvania: $1,636,965.
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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