Main Street Registry

Devi Hospitality, LLC

Cleveland, TN · Hotels (except Casino Hotels) and Motels · NAICS 721110

Devi Hospitality, LLC is located in Cleveland, TN, and the SBA lists its industry as Hotels (except Casino Hotels) and Motels. It was approved for an SBA 7(a) loan of $2,700,000 for a change of ownership on October 29, 2024.

SBA 7(a) loan, change of ownership, approved Oct 29, 2024

Gross approval
$2,700,000
SBA-guaranteed amount
$2,025,000 (75% of the approval)
Lender
American Pride Bank, Macon, GA
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
9.75%, variable
Term
25 years (300 months)
Estimated maturity
October 29, 2049 (estimated, approval date plus term)
Estimated monthly payment
$24,061 Estimated payment at the initial rate over the full term; actual terms vary.
Loan status
Committed, not fully disbursed
Jobs supported
14
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Franchise
Clarion Inn by Choice Hotels/Clarion Inn & Suites by Choice Hotels/Clarion Pointe by Choice Hotels
Project location
Bradley County, TN
SBA district office
Tennessee District Office
Congressional district
TN-04
Collateral
Yes
Guaranteed portion sold on secondary market
Not reported as sold
Revolving line of credit
No (term loan)

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 Tennessee