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Jai Khutai Inc

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

Jai Khutai Inc, located in Glen Mills, PA, 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 totaling $1.6 million, approved on August 12, 2024, by Peapack Private Bank and Trust.

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

$1,600,000 approvedLender: Peapack Private Bank and Trust25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$1,600,000
SBA-guaranteed amount
$1,200,000 (75% of the approval)
Lender
Peapack Private Bank and Trust, Bedminster, NJ
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
10.25%, variable
Term
25 years (300 months)
Estimated maturity
August 12, 2049 (estimated, approval date plus term)
Estimated monthly payment
$14,822 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
Project location
Delaware County, PA
SBA district office
Philadelphia District Office
Congressional district
PA-05
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 14% 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