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Yam Diamond Hospitality LLC

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

Yam Diamond Hospitality LLC is a hotel and motel business located in Vandalia, Illinois, 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, approved on February 13, 2024, in the amount of $2,525,000 through American Pride Bank.

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

$2,525,000 approvedLender: American Pride Bank25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$2,525,000
SBA-guaranteed amount
$1,893,750 (75% of the approval)
Lender
American Pride Bank, Macon, GA
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
10.25%, variable
Term
25 years (300 months)
Estimated maturity
February 13, 2049 (estimated, approval date plus term)
Estimated monthly payment
$23,391 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Feb 15, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
10
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Franchise
Quality Inn, Quality Inn & Suites,
Project location
Fayette County, IL
SBA district office
Illinois District Office
Congressional district
IL-15
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 36% 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