Main Street Registry

Neelkanth Varni Corporation

Canton, MI · Hotels (except Casino Hotels) and Motels · NAICS 721110

Neelkanth Varni Corporation is located in Canton, MI, and the SBA lists its industry as Hotels (except Casino Hotels) and Motels. It was approved for an SBA 7(a) loan of $3,100,000 for a change of ownership on July 8, 2026.

SBA 7(a) loan, change of ownership, approved Jul 8, 2026

Gross approval
$3,100,000
SBA-guaranteed amount
$2,325,000 (75% of the approval)
Lender
Southwestern National Bank, Houston, TX
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
7.75%, variable
Term
25 years (300 months)
Estimated maturity
July 8, 2051 (estimated, approval date plus term)
Estimated monthly payment
$23,415 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Aug 19, 2026
Loan status
Status not reported (SBA exemption)
Jobs supported
4
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Franchise
Travelodge by Wyndham
Project location
Wayne County, MI
SBA district office
Michigan District Office
Congressional district
MI-11
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)

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 Michigan