Main Street Registry

Nexgen Hospitality LLC

Columbus, OH · Hotels (except Casino Hotels) and Motels · NAICS 721110

Nexgen Hospitality LLC is a hotel and motel business in Columbus, Ohio, classified under the industry Hotels (except Casino Hotels) and Motels. The company was financed with an SBA 7(a) loan for a change of ownership of $3.76 million, approved on October 1, 2024 by Shoreham Bank.

SBA 7(a) loan, change of ownership, approved Oct 1, 2024

$3,760,000 approvedLender: Shoreham Bank25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$3,760,000
SBA-guaranteed amount
$2,820,000 (75% of the approval)
Lender
Shoreham Bank, Warwick, RI
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
9%, variable
Term
25 years (300 months)
Estimated maturity
October 1, 2049 (estimated, approval date plus term)
Estimated monthly payment
$31,554 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Oct 24, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
10
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Project location
Franklin County, OH
SBA district office
Columbus District Office
Congressional district
OH-03
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 59% 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 Ohio: $1,840,340.

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 Ohio