Kms Motel LLC
Kms Motel LLC is located in Phenix City, AL, and the SBA lists its industry as Hotels (except Casino Hotels) and Motels. It was approved for an SBA 7(a) loan of $2,125,000 for a change of ownership on January 30, 2024.
SBA 7(a) loan, change of ownership, approved Jan 30, 2024
- Gross approval
- $2,125,000
- SBA-guaranteed amount
- $1,593,750 (75% of the approval)
- Lender
- Hanover Community Bank, Mineola, NY
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10.25%, variable
- Term
- 25 years (300 months)
- Estimated maturity
- January 30, 2049 (estimated, approval date plus term)
- Estimated monthly payment
- $19,686 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Mar 27, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 16
- Business type
- Corporation
- NAICS
- 721110, Hotels (except Casino Hotels) and Motels
- Franchise
- Budgetel
- Project location
- Russell County, AL
- SBA district office
- Alabama District Office
- Congressional district
- AL-03
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 27% 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 Alabama: $1,764,717.
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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