Main Street Registry

Diamond Hospitality LLC

Lansing, IL · Hotels (except Casino Hotels) and Motels · NAICS 721110

Diamond Hospitality LLC is a hotel and motel business in Lansing, Illinois, classified under the industry for hotels (except casino hotels) and motels. The company was financed with an SBA 7(a) loan for a change of ownership, in the amount of $2,559,500, from Merchants Bank of Indiana, with approval dated April 9, 2025.

SBA 7(a) loan, change of ownership, approved Apr 9, 2025

$2,559,500 approvedLender: Merchants Bank of Indiana25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$2,559,500
SBA-guaranteed amount
$1,919,625 (75% of the approval)
Lender
Merchants Bank of Indiana, Carmel, IN
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
8.5%, variable
Term
25 years (300 months)
Estimated maturity
April 9, 2050 (estimated, approval date plus term)
Estimated monthly payment
$20,610 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Apr 14, 2025
Loan status
Status not reported (SBA exemption)
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Project location
Cook County, IL
SBA district office
Illinois District Office
Congressional district
IL-02
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 38% 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 Illinois: $1,796,780.

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 Illinois