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Shri Krishna Hospitality LLC

Sturbridge, MA · Hotels (except Casino Hotels) and Motels · NAICS 721110

Shri Krishna Hospitality LLC, located in Sturbridge, Massachusetts, operates in the hotels and motels industry (NAICS 721110) and is a franchise under Econo Lodge by Choice Hotels. The business was financed with an SBA 7(a) loan for a change of ownership totaling $2.1 million, approved on November 14, 2024 by Leader Bank, National Association.

SBA 7(a) loan, change of ownership, approved Nov 14, 2024

$2,100,000 approvedLender: Leader Bank, National Association25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$2,100,000
SBA-guaranteed amount
$1,575,000 (75% of the approval)
Lender
Leader Bank, National Association, Arlington, MA
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
9%, fixed
Term
25 years (300 months)
Estimated maturity
November 14, 2049 (estimated, approval date plus term)
Estimated monthly payment
$17,623 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Nov 21, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
5
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Franchise
Econo Lodge by Choice Hotels/Econo Lodge Inn & Suites by Choice Hotels
Project location
Middlesex County, MA
SBA district office
Massachusetts District Office
Congressional district
MA-03
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 27% 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 Massachusetts: $1,643,977.

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 Massachusetts