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Holiday Inn Express & Suites Pekin Peoria

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

Holiday Inn Express & Suites Pekin Peoria is a hotel and motel business in Pekin, Illinois, classified under NAICS code 721110 (Hotels, except Casino Hotels and Motels). The business was financed with an SBA 7(a) loan for a change of ownership of $5 million, approved by GBank on December 16, 2023, and the business is a Holiday Inn Express/Holiday Inn Express & Suites franchise.

SBA 7(a) loan, change of ownership, approved Dec 16, 2023

$5,000,000 approvedLender: GBank25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$5,000,000
SBA-guaranteed amount
$3,750,000 (75% of the approval)
Lender
GBank, Las Vegas, NV
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
9.5%, variable
Term
25 years (300 months)
Estimated maturity
December 16, 2048 (estimated, approval date plus term)
Estimated monthly payment
$43,685 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Dec 20, 2023
Loan status
Status not reported (SBA exemption)
Jobs supported
3
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Franchise
Holiday Inn Express/Holiday Inn Express & Suites
Project location
Tazewell County, IL
SBA district office
Illinois District Office
Congressional district
IL-17
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 76% 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