Main Street Registry

East Peoria 1008 LLC

East Peoria, IL · Hotels (except Casino Hotels) and Motels · NAICS 721110

East Peoria 1008 LLC is a hotel and motel business in East Peoria, Illinois, in the hotels (except casino hotels) and motels industry, and it operates under the Super 8 by Wyndham franchise. The business was financed with an SBA 7(a) loan for a change of ownership of $2.1 million, approved on May 27, 2025 by Merchants Bank of Indiana.

SBA 7(a) loan, change of ownership, approved May 27, 2025

$2,140,700 approvedLender: Merchants Bank of Indiana25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$2,140,700
SBA-guaranteed amount
$1,605,525 (75% of the approval)
Lender
Merchants Bank of Indiana, Carmel, IN
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
9%, variable
Term
25 years (300 months)
Estimated maturity
May 27, 2050 (estimated, approval date plus term)
Estimated monthly payment
$17,965 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Sep 10, 2025
Loan status
Status not reported (SBA exemption)
Jobs supported
8
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Franchise
Super 8 by Wyndhan / Super 8
Project location
Tazewell County, IL
SBA district office
Illinois District Office
Congressional district
IL-17
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 28% 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