Main Street Registry

Avatar Investments LLC

Greendale, IN · Hotels (except Casino Hotels) and Motels · NAICS 721110

Avatar Investments LLC, located in Greendale, Indiana, operates in the hotel and motel industry (NAICS 721110). The company was financed with an SBA 7(a) loan for a change of ownership, approved on May 14, 2024, for $3,726,000 through Hanover Community Bank. The loan records list 7 jobs and a franchise affiliation with Baymont by Wyndham / Baymont Inn & Suites.

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

$3,726,000 approvedLender: Hanover Community Bank285 months termStatus not reported (SBA exemption)Loan details
Gross approval
$3,726,000
SBA-guaranteed amount
$2,794,500 (75% of the approval)
Lender
Hanover Community Bank, Mineola, NY
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
10.25%, variable
Term
23 years, 9 months (285 months)
Estimated maturity
February 14, 2048 (estimated, approval date plus term)
Estimated monthly payment
$34,919 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
May 21, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
7
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Franchise
Baymont by Wyndham / Baymont Inn & Suites
Project location
Dearborn County, IN
SBA district office
Indiana District Office
Congressional district
IN-06
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 58% 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 Indiana: $1,995,900.

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.

Is this your company? Claim or correct this listing. See Corrections.

Same industry in Indiana