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Ashtavinayak Investments LLC

Colby, KS · Hotels (except Casino Hotels) and Motels · NAICS 721110

Ashtavinayak Investments LLC is a hotel and motel business in Colby, Kansas, operating in the hotels (except casino hotels) and motels industry. The company was financed with an SBA 7(a) loan for a change of ownership, in the amount of $1,660,000, approved on February 24, 2024. The loan was made by Metro City Bank.

SBA 7(a) loan, change of ownership, approved Feb 24, 2024

$1,660,000 approvedLender: Metro City Bank25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$1,660,000
SBA-guaranteed amount
$1,245,000 (75% of the approval)
Lender
Metro City Bank, Doraville, GA
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
9.75%, variable
Term
25 years (300 months)
Estimated maturity
February 24, 2049 (estimated, approval date plus term)
Estimated monthly payment
$14,793 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Mar 28, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
6
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Project location
Thomas County, KS
SBA district office
Wichita District Office
Congressional district
KS-01
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 16% 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 Kansas: $1,491,022.

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 Kansas