Main Street Registry

18 Hospitality LLC

Queensbury, NY · Hotels (except Casino Hotels) and Motels · NAICS 721110

18 Hospitality LLC, located in Queensbury, New York, operates in the hotels (except casino hotels) and motels industry, NAICS code 721110. The company financed real estate or equipment through an SBA 504 loan of $3,737,000, approved on May 7, 2024, with The Adirondack Trust Company as the lender and Empire State Certified Development Corporation as the certified development company.

SBA 504 loan, approved May 7, 2024

$3,737,000 SBA portionCDC: Empire State Certified Development Corporation25 years termStatus not reported (SBA exemption)Loan details
SBA (CDC) portion
$3,737,000
Bank portion
$3,648,000
Estimated project size
$8,205,556 (estimated)
Estimated owner equity
$820,556 (estimated, about 10% of the project)
Bank lender
The Adirondack Trust Company, Saratoga Springs, NY
CDC
Empire State Certified Development Corporation
Processing method
504 Refinancing: refinances existing business debt
Term
25 years (300 months)
Estimated maturity
May 7, 2049 (estimated, approval date plus term)
First disbursement
Sep 11, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
20
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Franchise
Holiday Inn/Holiday Inn & Suites/Holiday Inn Resort
Project location
Warren County, NY
SBA district office
Syracuse District Office
Congressional district
NY-21
Collateral
Yes

Estimated share of project by source

Bank 44% SBA (CDC) 46% Owner 10%

  • Larger than 74% of expansion loans in Hotels (except Casino Hotels) and Motels on this site.
  • Average expansion loan in Hotels (except Casino Hotels) and Motels: $2,843,226.
  • Average expansion loan in New York: $2,225,161.

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 New York