Main Street Registry

Karp Hospitality LLC

Amarillo, TX · Hotels (except Casino Hotels) and Motels · NAICS 721110

Karp Hospitality LLC, located in Amarillo, Texas, operates in the hotels and motels industry (NAICS 721110). The business was financed with an SBA 7(a) loan for a change of ownership of $2,338,000, approved on September 10, 2024, through United Midwest Savings Bank National Association.

SBA 7(a) loan, change of ownership, approved Sep 10, 2024

$2,338,000 approvedLender: United Midwest Savings Bank National Association25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$2,338,000
SBA-guaranteed amount
$1,753,500 (75% of the approval)
Lender
United Midwest Savings Bank National Association, De Graff, OH
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
10%, variable
Term
25 years (300 months)
Estimated maturity
September 10, 2049 (estimated, approval date plus term)
Estimated monthly payment
$21,245 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Sep 19, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
17
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Project location
Potter County, TX
SBA district office
Lubbock District Office
Congressional district
TX-13
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 32% 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 Texas: $1,944,682.

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.

Is this your company? Claim or correct this listing. See Corrections.

Same industry in Texas