Madhav 24 LLC

SBA 7(a) loan, change of ownership, approved Mar 12, 2025

Gross approval

$4,225,000

SBA-guaranteed amount

$3,168,750 (75% of the approval)

Lender

American Pride Bank, Macon, GA

Processing method

Preferred Lender Program: lender approved under delegated SBA authority

Initial interest rate

8.5%, variable

Term

25 years (300 months)

Estimated maturity

March 12, 2050 (estimated, approval date plus term)

Estimated monthly payment

$34,021 Estimated payment at the initial rate over the full term; actual terms vary.

Loan status

Committed, not fully disbursed

Jobs supported

12

Business type

Corporation

NAICS

721110, Hotels (except Casino Hotels) and Motels

Franchise

Best Western - Best Western Plus - Best Western Premier- Executive Residency by Best Western- @Home by Best Western - GLo - Aiden - Membership Agreement

Project location

York County, SC

SBA district office

South Carolina District Office

Congressional district

SC-05

Collateral

Yes

Guaranteed portion sold on secondary market

Not reported as sold

Revolving line of credit

No (term loan)

• Larger than 66% 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 South Carolina: $1,827,509.

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.