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Home Towne Studio Waukegan LLC

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

Home Towne Studio Waukegan LLC is a hotel and motel business in Waukegan, Illinois, in the Hotels (except Casino Hotels) and Motels industry. It was financed with an SBA 7(a) loan for a change of ownership, with a loan amount of $3,617,000 from GBank, approved on November 10, 2023. The business is a franchise under HomeTowne Studios by Red Roof.

SBA 7(a) loan, change of ownership, approved Nov 10, 2023

$3,617,000 approvedLender: GBank25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$3,617,000
SBA-guaranteed amount
$2,712,750 (75% of the approval)
Lender
GBank, Las Vegas, NV
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
9%, variable
Term
25 years (300 months)
Estimated maturity
November 10, 2048 (estimated, approval date plus term)
Estimated monthly payment
$30,354 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Dec 8, 2023
Loan status
Status not reported (SBA exemption)
Jobs supported
4
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Franchise
HomeTowne Studios by Red Roof
Project location
Lake County, IL
SBA district office
Illinois District Office
Congressional district
IL-10
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 57% 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