Main Street Registry

Derby Hospitality LLC

Louisville, KY · Hotels (except Casino Hotels) and Motels · NAICS 721110

Derby Hospitality LLC is a hotel business in Louisville, Kentucky, classified under the industry Hotels (except Casino Hotels) and Motels (NAICS 721110), and it operates as a Candlewood Suites franchise. The business was financed with an SBA 7(a) loan for a change of ownership totaling $5 million, approved on November 27, 2024 by Everwise Credit Union, with 36 jobs reported.

SBA 7(a) loan, change of ownership, approved Nov 27, 2024

$5,000,000 approvedLender: Everwise Credit Union25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$5,000,000
SBA-guaranteed amount
$3,750,000 (75% of the approval)
Lender
Everwise Credit Union, South Bend, IN
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
10.75%, variable
Term
25 years (300 months)
Estimated maturity
November 27, 2049 (estimated, approval date plus term)
Estimated monthly payment
$48,105 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Dec 6, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
36
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Franchise
Candlewood Suites
Project location
Jefferson County, KY
SBA district office
Kentucky District Office
Congressional district
KY-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 Kentucky: $1,988,993.

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 Kentucky