Main Street Registry

Shivaay Hospitality Partnership

Cleveland, TN · Hotels (except Casino Hotels) and Motels · NAICS 721110

Shivaay Hospitality Partnership, located in Cleveland, Tennessee, operates in the hotels (except casino hotels) and motels industry and is a Holiday Inn franchise. The business financed real estate or equipment through an SBA 504 loan of $3,048,000 approved on July 30, 2024, through the lender Builtwell Bank with the certified development company Brightbridge, Inc. The loan is reported to support 20 jobs.

SBA 504 loan, approved Jul 30, 2024

$3,048,000 SBA portionCDC: Brightbridge, Inc.25 years termStatus not reported (SBA exemption)Loan details
SBA (CDC) portion
$3,048,000
Bank portion
$4,967,000
Estimated project size
$8,905,556 (estimated)
Estimated owner equity
$890,556 (estimated, about 10% of the project)
Bank lender
Builtwell Bank, Chattanooga, TN
CDC
Brightbridge, Inc.
Processing method
504 Basic: standard SBA processing through a CDC
Term
25 years (300 months)
Estimated maturity
July 30, 2049 (estimated, approval date plus term)
First disbursement
Jan 15, 2025
Loan status
Status not reported (SBA exemption)
Jobs supported
20
Business type
LLC or partnership
NAICS
721110, Hotels (except Casino Hotels) and Motels
Franchise
Holiday Inn/Holiday Inn & Suites/Holiday Inn Resort
Project location
Bradley County, TN
SBA district office
Tennessee District Office
Congressional district
TN-4
Collateral
Yes

Estimated share of project by source

Bank 56% SBA (CDC) 34% Owner 10%

  • Larger than 60% of expansion loans in Hotels (except Casino Hotels) and Motels on this site.
  • Average expansion loan in Hotels (except Casino Hotels) and Motels: $2,843,226.
  • Average expansion loan in Tennessee: $2,402,643.

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 Tennessee