Ace Hospitality, LLC
Ace Hospitality, LLC is a hotel, casino hotel excluded, and motel business located in Rutland, Vermont. The company financed real estate or equipment through an SBA 504 loan of $3,114,000 approved on October 14, 2023, with Centreville Bank as the lending partner and Granite State Economic Development Corporation as the certified development company. The loan was reported with 20 jobs.
SBA 504 loan, approved Oct 14, 2023
$3,114,000 SBA portionCDC: Granite State Economic Development Corporation25 years termStatus not reported (SBA exemption)Loan details
- SBA (CDC) portion
- $3,114,000
- Bank portion
- $4,350,000
- Estimated project size
- $8,293,333 (estimated)
- Estimated owner equity
- $829,333 (estimated, about 10% of the project)
- Bank lender
- Centreville Bank, West Warwick, RI
- Processing method
- Accredited Lenders Program: CDC with an expedited SBA review
- Term
- 25 years (300 months)
- Estimated maturity
- October 14, 2048 (estimated, approval date plus term)
- First disbursement
- Sep 11, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 20
- Business type
- Corporation
- NAICS
- 721110, Hotels (except Casino Hotels) and Motels
- Project location
- Rutland County, VT
- SBA district office
- Vermont District Office
- Congressional district
- VT-0
- Collateral
- Yes
Estimated share of project by source
Bank 52% SBA (CDC) 38% Owner 10%
- Larger than 61% of expansion loans in Hotels (except Casino Hotels) and Motels on this site.
- Average expansion loan in Hotels (except Casino Hotels) and Motels: $2,843,226.
- Average expansion loan in Vermont: $2,456,833.
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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- Siddhi Hospitality LLC, Shelburne
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