Main Street Registry

Shreeji Grants Hospitality L.L.C. / Motel6 Grants L.L.C.

Grants, NM · Hotels (except Casino Hotels) and Motels · NAICS 721110

Shreeji Grants Hospitality L.L.C. / Motel6 Grants L.L.C. is a hotel and motel business located in Grants, New Mexico, in the Hotels (except Casino Hotels) and Motels industry. It was financed with an SBA 7(a) loan for a change of ownership totaling $2,791,000, approved on February 13, 2024 by United Midwest Savings Bank National Association, and the loan reports 22 jobs and operation as a Motel 6 franchise.

SBA 7(a) loan, change of ownership, approved Feb 13, 2024

$2,791,000 approvedLender: United Midwest Savings Bank National Association25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$2,791,000
SBA-guaranteed amount
$2,093,250 (75% of the approval)
Lender
United Midwest Savings Bank National Association, De Graff, OH
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
10%, variable
Term
25 years (300 months)
Estimated maturity
February 13, 2049 (estimated, approval date plus term)
Estimated monthly payment
$25,362 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Feb 26, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
22
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Franchise
Motel 6
Project location
Cibola County, NM
SBA district office
New Mexico District Office
Congressional district
NM-02
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 43% 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 New Mexico: $1,985,089.

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.

Is this your company? Claim or correct this listing. See Corrections.

Same industry in New Mexico