Main Street Registry

Kings Bay Coastal Hotel Management, LLC

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

Kings Bay Coastal Hotel Management, LLC is located in Kingsland, Georgia, and 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 in the amount of $4,995,000, approved on January 6, 2024, by Farmers State Bank of Alto Pass, Illinois.

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

$4,995,000 approvedLender: Farmers State Bank of Alto Pass, Illinois25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$4,995,000
SBA-guaranteed amount
$3,746,250 (75% of the approval)
Lender
Farmers State Bank of Alto Pass, Illinois, Alto Pass, IL
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
10%, variable
Term
25 years (300 months)
Estimated maturity
January 6, 2049 (estimated, approval date plus term)
Estimated monthly payment
$45,390 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Feb 1, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
10
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Project location
Camden 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)
  • 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 Georgia: $2,017,638.

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