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Hanuman Hospitality, Inc.

Middletown, RI · Hotels (except Casino Hotels) and Motels · NAICS 721110

Hanuman Hospitality, Inc., located in Middletown, RI, operates in the hotels (except casino hotels) and motels industry. The company was financed with an SBA 7(a) loan for a change of ownership in the amount of $4.5 million, approved on August 12, 2024, by Readycap Lending, LLC.

SBA 7(a) loan, change of ownership, approved Aug 12, 2024

$4,500,000 approvedLender: Readycap Lending, LLC299 months termStatus not reported (SBA exemption)Loan details
Gross approval
$4,500,000
SBA-guaranteed amount
$3,375,000 (75% of the approval)
Lender
Readycap Lending, LLC, Berkeley Heights, NJ
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
10.5%, variable
Term
24 years, 11 months (299 months)
Estimated maturity
July 12, 2049 (estimated, approval date plus term)
Estimated monthly payment
$42,518 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Aug 23, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
3
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Franchise
Red Roof Inn
Project location
Newport County, RI
SBA district office
Rhode Island District Office
Congressional district
RI-01
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 70% 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 Rhode Island: $1,739,073.

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 Rhode Island