Main Street Registry

Baymont Inn Cleveland

Cleveland, TN · Hotels (except Casino Hotels) and Motels · NAICS 721110

Baymont Inn Cleveland is a hotel and motel business in Cleveland, TN, in the Hotels (except Casino Hotels) and Motels industry, operating as a Baymont by Wyndham franchise. The company was financed with an SBA 7(a) loan for a change of ownership totaling $2.4 million, approved on September 27, 2024 by First Western SBLC, LLC d/b/a Peachtree Group.

SBA 7(a) loan, change of ownership, approved Sep 27, 2024

$2,400,000 approvedLender: First Western SBLC, LLC d/b/a Peachtree Group25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$2,400,000
SBA-guaranteed amount
$1,800,000 (75% of the approval)
Lender
First Western SBLC, LLC d/b/a Peachtree Group, Dallas, TX
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
9.75%, variable
Term
25 years (300 months)
Estimated maturity
September 27, 2049 (estimated, approval date plus term)
Estimated monthly payment
$21,387 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Oct 11, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
7
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Franchise
Baymont by Wyndham / Baymont Inn & Suites
Project location
Bradley County, TN
SBA district office
Tennessee District Office
Congressional district
TN-04
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 33% 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 Tennessee: $1,738,925.

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 Tennessee