Ridhi Hotel LLC
Ridhi Hotel LLC is located in Moss Point, MS, and the SBA lists its industry as Hotels (except Casino Hotels) and Motels. It was approved for an SBA 7(a) loan of $1,300,000 for a change of ownership on July 13, 2024.
SBA 7(a) loan, change of ownership, approved Jul 13, 2024
- Gross approval
- $1,300,000
- SBA-guaranteed amount
- $975,000 (75% of the approval)
- Lender
- GBank, Las Vegas, NV
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 9.5%, variable
- Term
- 25 years (300 months)
- Estimated maturity
- July 13, 2049 (estimated, approval date plus term)
- Estimated monthly payment
- $11,358 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jul 19, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 8
- Business type
- Corporation
- NAICS
- 721110, Hotels (except Casino Hotels) and Motels
- Franchise
- Motel 6
- Project location
- Jackson County, MS
- SBA district office
- Mississippi District Office
- Congressional district
- MS-04
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 9% 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 Mississippi: $1,688,600.
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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