Main Street Registry

Shaka Hotels LLC

Elkhart, IN · Hotels (except Casino Hotels) and Motels · NAICS 721110

Shaka Hotels LLC, located in Elkhart, Indiana, operates in the hotels (except casino hotels) and motels industry. The company was financed with an SBA 7(a) loan for a change of ownership of $3,108,000, approved on August 26, 2024 by GBank, with a 300-month term and 28 jobs reported, and the business operates under a franchise agreement with Best Western.

SBA 7(a) loan, change of ownership, approved Aug 26, 2024

$3,108,000 approvedLender: GBank25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$3,108,000
SBA-guaranteed amount
$2,331,000 (75% of the approval)
Lender
GBank, Las Vegas, NV
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
9.75%, variable
Term
25 years (300 months)
Estimated maturity
August 26, 2049 (estimated, approval date plus term)
Estimated monthly payment
$27,697 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Aug 30, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
28
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Franchise
Best Western - Best Western Plus - Best Western Premier- Executive Residency by Best Western- @Home by Best Western - GLo - Aiden - Membership Agreement
Project location
Elkhart County, IN
SBA district office
Indiana District Office
Congressional district
IN-02
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 49% 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 Indiana: $1,995,900.

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 Indiana