Main Street Registry

East Indy Hotels LLC

Indianapolis, IN · Hotels (except Casino Hotels) and Motels · NAICS 721110

East Indy Hotels LLC is a hotel business in Indianapolis, Indiana, classified under the industry Hotels (except Casino Hotels) and Motels. The company financed real estate or equipment through an SBA 504 loan of $2,449,000, approved on August 20, 2024, with Celtic Bank Corporation as the lending bank and Premier Capital Corporation as the certified development company.

SBA 504 loan, approved Aug 20, 2024

$2,449,000 SBA portionCDC: Premier Capital Corporation25 years termStatus not reported (SBA exemption)Loan details
SBA (CDC) portion
$2,449,000
Bank portion
$3,420,000
Estimated project size
$6,521,111 (estimated)
Estimated owner equity
$652,111 (estimated, about 10% of the project)
Bank lender
Celtic Bank Corporation, Salt Lake City, UT
CDC
Premier Capital Corporation
Processing method
Accredited Lenders Program: CDC with an expedited SBA review
Term
25 years (300 months)
Estimated maturity
August 20, 2049 (estimated, approval date plus term)
First disbursement
Nov 13, 2024
Loan status
Status not reported (SBA exemption)
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Franchise
Sleep Inn by Choice Hotels/Sleep Inn & Suites by Choice Hotels
Project location
Marion County, IN
SBA district office
Indiana District Office
Congressional district
IN-7
Collateral
Yes

Estimated share of project by source

Bank 52% SBA (CDC) 38% Owner 10%

  • Larger than 47% of expansion loans in Hotels (except Casino Hotels) and Motels on this site.
  • Average expansion loan in Hotels (except Casino Hotels) and Motels: $2,843,226.
  • Average expansion loan in Indiana: $2,227,963.

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 Indiana