Main Street Registry

Synergy Hospitality LLC

Frisco, TX · Hotels (except Casino Hotels) and Motels · NAICS 721110

Synergy Hospitality LLC is a hotel business in Frisco, Texas, classified under the industry description Hotels (except Casino Hotels) and Motels. The company was financed with an SBA 7(a) loan for a change of ownership of $5 million, approved on January 10, 2024 by Open Bank, and the loan is reported with 16 jobs and a Wingate by Wyndham franchise.

SBA 7(a) loan, change of ownership, approved Jan 10, 2024

$5,000,000 approvedLender: Open Bank25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$5,000,000
SBA-guaranteed amount
$3,750,000 (75% of the approval)
Lender
Open Bank, Los Angeles, CA
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
9.75%, variable
Term
25 years (300 months)
Estimated maturity
January 10, 2049 (estimated, approval date plus term)
Estimated monthly payment
$44,557 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Jan 30, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
16
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Franchise
Wingate by Wyndham
Project location
Collin County, TX
SBA district office
Dallas / Ft Worth District Office
Congressional district
TX-03
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 76% 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 Texas: $1,944,682.

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 Texas