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Five Hospitality II LLC

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

Five Hospitality II LLC is a hotel and motel business located in Newport, Tennessee, classified under the industry Hotels (except Casino Hotels) and Motels. The company was financed with an SBA 7(a) loan for a change of ownership of $1,780,000, approved on January 10, 2024, through Milestone Bank. The loan reported 6 jobs.

SBA 7(a) loan, change of ownership, approved Jan 10, 2024

Gross approval
$1,780,000
SBA-guaranteed amount
$1,335,000 (75% of the approval)
Lender
Milestone Bank, Salt Lake City, UT
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
11%, variable
Term
25 years (300 months)
Estimated maturity
January 10, 2049 (estimated, approval date plus term)
Estimated monthly payment
$17,446 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Jan 25, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
6
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Project location
Cocke County, TN
SBA district office
Tennessee District Office
Congressional district
TN-01
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
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