Main Street Registry

HANU Somerset LLC

Somerset, PA · Hotels (except Casino Hotels) and Motels · NAICS 721110

HANU Somerset LLC is a hotel and motel business in Somerset, PA, classified under NAICS 721110 (Hotels, except Casino Hotels, and Motels), and operates as a Holiday Inn Express/Holiday Inn Express & Suites franchise. The business was financed with an SBA 7(a) loan for a change of ownership, approved by lender GBank on June 20, 2024, for $5 million with a 300-month term and an estimated 19 jobs reported.

SBA 7(a) loan, change of ownership, approved Jun 20, 2024

$5,000,000 approvedLender: GBank25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$5,000,000
SBA-guaranteed amount
$3,750,000 (75% of the approval)
Lender
GBank, Las Vegas, NV
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
9.5%, variable
Term
25 years (300 months)
Estimated maturity
June 20, 2049 (estimated, approval date plus term)
Estimated monthly payment
$43,685 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Jul 9, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
19
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Franchise
Holiday Inn Express/Holiday Inn Express & Suites
Project location
Somerset County, PA
SBA district office
Pittsburgh District Office
Congressional district
PA-13
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 76% 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 Pennsylvania: $1,636,965.

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 Pennsylvania