Main Street Registry

H&H Motor Lodge

Idaho Springs, CO · Hotels (except Casino Hotels) and Motels · NAICS 721110

H&H Motor Lodge in Idaho Springs, CO operates in the hotels and motels industry (NAICS 721110). The business was financed with an SBA 7(a) loan for a change of ownership totaling $2,138,000, approved on December 22, 2023 by Open Bank.

SBA 7(a) loan, change of ownership, approved Dec 22, 2023

$2,138,000 approvedLender: Open Bank25 years termPaid in fullLoan details
Gross approval
$2,138,000
SBA-guaranteed amount
$1,603,500 (75% of the approval)
Lender
Open Bank, Los Angeles, CA
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
9.75%, variable
Term
25 years (300 months)
Estimated maturity
December 22, 2048 (estimated, approval date plus term)
Estimated monthly payment
$19,053 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Jan 26, 2024
Loan status
Paid in full
Jobs supported
6
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Project location
Clear Creek County, CO
SBA district office
Colorado District Office
Congressional district
CO-02
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 Colorado: $1,608,658.

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 Colorado