Main Street Registry

Olympia Inn

Colorado Springs, CO · Hotels (except Casino Hotels) and Motels · NAICS 721110

Olympia Inn is located in Colorado Springs, CO, and the SBA lists its industry as Hotels (except Casino Hotels) and Motels. It was approved for an SBA 7(a) loan of $2,176,000 for a change of ownership on April 18, 2024.

SBA 7(a) loan, change of ownership, approved Apr 18, 2024

Gross approval
$2,176,000
SBA-guaranteed amount
$1,632,000 (75% of the approval)
Lender
Open Bank, Los Angeles, CA
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
9.75%, variable
Term
25 years (300 months)
Estimated maturity
April 18, 2049 (estimated, approval date plus term)
Estimated monthly payment
$19,391 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Apr 22, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
20
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Project location
El Paso County, CO
SBA district office
Colorado District Office
Congressional district
CO-05
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 Colorado