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Dream Hospitality LLC

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

Dream Hospitality LLC is a hotel business in South Holland, Illinois, operating in the hotels (except casino hotels) and motels industry, and it operates under the Econo Lodge franchise. The company was financed with an SBA 7(a) loan for a change of ownership of $2.63 million, approved by Millennium Bank on September 4, 2024.

SBA 7(a) loan, change of ownership, approved Sep 4, 2024

$2,630,000 approvedLender: Millennium Bank25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$2,630,000
SBA-guaranteed amount
$1,972,500 (75% of the approval)
Lender
Millennium Bank, Des Plaines, IL
Processing method
Standard 7(a): the lender submits the application for SBA review
Initial interest rate
10.25%, variable
Term
25 years (300 months)
Estimated maturity
September 4, 2049 (estimated, approval date plus term)
Estimated monthly payment
$24,364 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Oct 1, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
10
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Franchise
Econo Lodge by Choice Hotels/Econo Lodge Inn & Suites by Choice Hotels
Project location
Cook County, IL
SBA district office
Illinois District Office
Congressional district
IL-02
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 40% 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