Main Street Registry

Khushi 17 Inc.

Port Wentworth, GA · Hotels (except Casino Hotels) and Motels · NAICS 721110

Khushi 17 Inc. is located in Port Wentworth, GA, and the SBA lists its industry as Hotels (except Casino Hotels) and Motels. It was approved for an SBA 7(a) loan of $3,200,000 for a change of ownership on November 6, 2024.

SBA 7(a) loan, change of ownership, approved Nov 6, 2024

Gross approval
$3,200,000
SBA-guaranteed amount
$2,400,000 (75% of the approval)
Lender
South Coast Bank & Trust, Brunswick, GA
Processing method
Standard 7(a): the lender submits the application for SBA review
Initial interest rate
9.25%, variable
Term
23 years, 10 months (286 months)
Estimated maturity
September 6, 2048 (estimated, approval date plus term)
Estimated monthly payment
$27,754 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Nov 30, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
8
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Franchise
Red Roof Inn
Project location
Chatham County, GA
SBA district office
Georgia District Office
Congressional district
GA-01
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)

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.

Is this your company? Claim or correct this listing. See Corrections.

Same industry in Georgia