Main Street Registry

Ascend Hospitality LLC

Portage, IN · Hotels (except Casino Hotels) and Motels · NAICS 721110

Ascend Hospitality LLC, located in Portage, Indiana, operates in the hotels (except casino hotels) and motels industry. The company was financed with an SBA 7(a) loan for a change of ownership totaling $5,000,000, approved on December 10, 2024, through lender GBank. The business operates as a Hampton Inn by Hilton franchise.

SBA 7(a) loan, change of ownership, approved Dec 10, 2024

$5,000,000 approvedLender: GBank25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$5,000,000
SBA-guaranteed amount
$3,750,000 (75% of the approval)
Lender
GBank, Las Vegas, NV
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
9%, variable
Term
25 years (300 months)
Estimated maturity
December 10, 2049 (estimated, approval date plus term)
Estimated monthly payment
$41,960 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Dec 17, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
2
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Franchise
Hampton Inn by Hilton
Project location
Porter County, IN
SBA district office
Indiana District Office
Congressional district
IN-01
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 76% 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 Indiana: $1,995,900.

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 Indiana