Black Apple Hospitality L.L.C.
Black Apple Hospitality L.L.C. is a hotel business in Christiansted, VI, in the NAICS category for hotels (except casino hotels) and motels. The company was financed with an SBA 7(a) loan for a change of ownership, with an approved loan amount of $2,171,000, approved by FDIC - Community Bank & Trust-West Georgia on July 12, 2024.
SBA 7(a) loan, change of ownership, approved Jul 12, 2024
$2,171,000 approvedLender: FDIC - Community Bank & Trust-West Georgia302 months termStatus not reported (SBA exemption)Loan details
- Gross approval
- $2,171,000
- SBA-guaranteed amount
- $1,628,250 (75% of the approval)
- Lender
- FDIC - Community Bank & Trust-West Georgia, LaGrange, GA
- Processing method
- Standard 7(a): the lender submits the application for SBA review
- Initial interest rate
- 11.5%, variable
- Term
- 25 years, 2 months (302 months)
- Estimated maturity
- September 12, 2049 (estimated, approval date plus term)
- Estimated monthly payment
- $22,042 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jul 29, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 9
- Business type
- Corporation
- NAICS
- 721110, Hotels (except Casino Hotels) and Motels
- Project location
- Saint Croix County, VI
- SBA district office
- Puerto Rico and Usvi District Office
- Congressional district
- VI-00
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 29% 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 U.S. Virgin Islands: $1,409,667.
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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