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Vedanta Hospitality LLC

Bloomington, IL · Hotels (except Casino Hotels) and Motels · NAICS 721110

Vedanta Hospitality LLC is a hotel operator in Bloomington, Illinois, in the hotels (except casino hotels) and motels industry. The company was financed with an SBA 7(a) loan for a change of ownership, with an approved amount of $1,619,000 from GBank, approved on August 20, 2024.

SBA 7(a) loan, change of ownership, approved Aug 20, 2024

$1,619,000 approvedLender: GBank25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$1,619,000
SBA-guaranteed amount
$1,214,250 (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 20, 2049 (estimated, approval date plus term)
Estimated monthly payment
$14,428 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
15
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Franchise
Ramada / Ramada by Wyndham / Ramada Plaza / Ramada Plaza by Wyndham
Project location
Mclean County, IL
SBA district office
Illinois District Office
Congressional district
IL-13
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 15% 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 Illinois: $1,796,780.

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 Illinois