Main Street Registry

American Business Ventures USA LP

Austinburg, OH · Hotels (except Casino Hotels) and Motels · NAICS 721110

American Business Ventures USA LP is a hotel and motel business in Austinburg, OH, classified under the industry Hotels (except Casino Hotels) and Motels. The company was financed with an SBA 7(a) loan for a change of ownership of $2.75 million, approved on December 18, 2024 through lender GBank, and the business is listed as a Red Roof Inn franchise.

SBA 7(a) loan, change of ownership, approved Dec 18, 2024

$2,750,000 approvedLender: GBank25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$2,750,000
SBA-guaranteed amount
$2,062,500 (75% of the approval)
Lender
GBank, Las Vegas, NV
Processing method
Standard 7(a): the lender submits the application for SBA review
Initial interest rate
9.25%, variable
Term
25 years (300 months)
Estimated maturity
December 18, 2049 (estimated, approval date plus term)
Estimated monthly payment
$23,551 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Jan 7, 2025
Loan status
Status not reported (SBA exemption)
Jobs supported
14
Business type
LLC or partnership
NAICS
721110, Hotels (except Casino Hotels) and Motels
Franchise
Red Roof Inn
Project location
Ashtabula County, OH
SBA district office
Columbus District Office
Congressional district
OH-14
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 43% of acquisition loans in Hotels (except Casino Hotels) and Motels on this site.
  • Average acquisition loan in Hotels (except Casino Hotels) and Motels: $3,241,374.
  • Average acquisition loan in Ohio: $1,840,340.

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 Ohio