American Hospitality Management, Inc
American Hospitality Management, Inc, located in Cheboygan, Michigan, is classified under the industry All Other Business Support Services (NAICS 561499). The company was financed with an SBA 7(a) loan for a change of ownership, with a loan amount of $4,947,000 from The Huntington National Bank, approved on June 21, 2024.
SBA 7(a) loan, change of ownership, approved Jun 21, 2024
$4,947,000 approvedLender: The Huntington National Bank10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $4,947,000
- SBA-guaranteed amount
- $3,710,250 (75% of the approval)
- Lender
- The Huntington National Bank, Columbus, OH
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 8.95%, fixed
- Term
- 10 years (120 months)
- Estimated maturity
- June 21, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $62,533 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jun 27, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 18
- Business type
- Corporation
- NAICS
- 561499, All Other Business Support Services
- Project location
- Cheboygan County, MI
- SBA district office
- Michigan District Office
- Congressional district
- MI-01
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Average acquisition loan in All Other Business Support Services: $1,816,156.
- Average acquisition loan in Michigan: $1,645,728.
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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