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Jsk Hospitality Inc.

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

JSK Hospitality Inc. is a hotel business in Elgin, Illinois, in the hotels (except casino hotels) and motels industry, operating as a Country Inn and Suites by Radisson franchise. The company was financed with an SBA 7(a) loan for a change of ownership of $5 million, approved on March 16, 2024, through lender GBank, and the loan reports 6 jobs.

SBA 7(a) loan, change of ownership, approved Mar 16, 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
9.25%, variable
Term
25 years (300 months)
Estimated maturity
March 16, 2049 (estimated, approval date plus term)
Estimated monthly payment
$42,819 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Mar 21, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
6
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Franchise
Country Inn and Suites by Radisson
Project location
Kane County, IL
SBA district office
Illinois District Office
Congressional district
IL-06
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 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