Chalmette LA Hotels LLC
Chalmette LA Hotels LLC is located in Chalmette, LA, and the SBA lists its industry as Hotels (except Casino Hotels) and Motels. It was approved for an SBA 7(a) loan of $3,005,000 for a change of ownership on August 26, 2024.
SBA 7(a) loan, change of ownership, approved Aug 26, 2024
- Gross approval
- $3,005,000
- SBA-guaranteed amount
- $2,253,750 (75% of the approval)
- Lender
- Wallis Bank, Wallis, TX
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10%, variable
- Term
- 25 years, 6 months (306 months)
- Estimated maturity
- February 26, 2050 (estimated, approval date plus term)
- Estimated monthly payment
- $27,187 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Aug 30, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 11
- Business type
- Corporation
- NAICS
- 721110, Hotels (except Casino Hotels) and Motels
- Project location
- Saint Bernard County, LA
- SBA district office
- Louisiana District Office
- Congressional district
- LA-01
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 48% 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 Louisiana: $1,702,056.
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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