Jai Omkara LLC
Jai Omkara LLC is a hotel and motel business in Central City, Kentucky, classified under NAICS 721110 for hotels (except casino hotels) and motels. The company was financed with an SBA 7(a) loan for a change of ownership, approved on October 18, 2023 for $1,540,000 through United Midwest Savings Bank National Association. The loan operates under the Days Inn franchise brand.
SBA 7(a) loan, change of ownership, approved Oct 18, 2023
$1,540,000 approvedLender: United Midwest Savings Bank National Association25 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $1,540,000
- SBA-guaranteed amount
- $1,155,000 (75% of the approval)
- Lender
- United Midwest Savings Bank National Association, De Graff, OH
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10%, variable
- Term
- 25 years (300 months)
- Estimated maturity
- October 18, 2048 (estimated, approval date plus term)
- Estimated monthly payment
- $13,994 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Oct 31, 2023
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 10
- Business type
- Corporation
- NAICS
- 721110, Hotels (except Casino Hotels) and Motels
- Franchise
- Days Inn / Days Inn by Wyndham
- Project location
- Muhlenberg County, KY
- SBA district office
- Kentucky District Office
- Congressional district
- KY-01
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 13% 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 Kentucky: $1,988,993.
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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