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Comfort Inn & Suites Copley Akron

Copley, OH · Hotels (except Casino Hotels) and Motels · NAICS 721110

Comfort Inn & Suites Copley Akron is a hotel business in Copley, Ohio, classified under the SBA industry Hotels (except Casino Hotels) and Motels. The business was financed with an SBA 7(a) loan for a change of ownership totaling $2,635,000, approved on August 9, 2024 by The Huntington National Bank.

SBA 7(a) loan, change of ownership, approved Aug 9, 2024

$2,635,000 approvedLender: The Huntington National Bank25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$2,635,000
SBA-guaranteed amount
$1,976,250 (75% of the approval)
Lender
The Huntington National Bank, Columbus, OH
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
10.5%, variable
Term
25 years (300 months)
Estimated maturity
August 9, 2049 (estimated, approval date plus term)
Estimated monthly payment
$24,879 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Aug 26, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
6
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Franchise
Comfort Suites by Choice Hotels
Project location
Summit County, OH
SBA district office
Columbus District Office
Congressional district
OH-11
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 40% 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 Ohio: $1,840,340.

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 Ohio