Okb Hospitality LLC
Okb Hospitality LLC, located in Harrison, Michigan, operates in the RV (Recreational Vehicle) Parks and Campgrounds industry. The company was financed with an SBA 7(a) loan for a change of ownership of $510,000, approved on December 18, 2023 by The Huntington National Bank.
SBA 7(a) loan, change of ownership, approved Dec 18, 2023
$510,000 approvedLender: The Huntington National Bank25 years termPaid in fullLoan details
- Gross approval
- $510,000
- SBA-guaranteed amount
- $382,500 (75% of the approval)
- Lender
- The Huntington National Bank, Columbus, OH
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 8.99%, fixed
- Term
- 25 years (300 months)
- Estimated maturity
- December 18, 2048 (estimated, approval date plus term)
- Estimated monthly payment
- $4,276 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Dec 22, 2023
- Loan status
- Paid in full
- Jobs supported
- 5
- Business type
- Corporation
- NAICS
- 721211, RV (Recreational Vehicle) Parks and Campgrounds
- Project location
- Clare County, MI
- SBA district office
- Michigan District Office
- Congressional district
- MI-04
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Average acquisition loan in RV (Recreational Vehicle) Parks and Campgrounds: $1,687,172.
- Average acquisition loan in Michigan: $1,645,728.
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
- Sturgeon Valley Campground, Wolverine
- Summer Breeze Campground, LLC, Iron Mountain