Main Street Registry

KK Hospitality LLC

Ruther Glen, VA · Hotels (except Casino Hotels) and Motels · NAICS 721110

KK Hospitality LLC is a hotel and motel business in Ruther Glen, Virginia, classified under NAICS 721110 (Hotels, except Casino Hotels and Motels). The company was financed with an SBA 7(a) loan for a change of ownership of $3,150,000, with GBank as the lender and approval dated November 2, 2023.

SBA 7(a) loan, change of ownership, approved Nov 2, 2023

$3,150,000 approvedLender: GBank25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$3,150,000
SBA-guaranteed amount
$2,362,500 (75% of the approval)
Lender
GBank, Las Vegas, NV
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
9.75%, variable
Term
25 years (300 months)
Estimated maturity
November 2, 2048 (estimated, approval date plus term)
Estimated monthly payment
$28,071 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Dec 8, 2023
Loan status
Status not reported (SBA exemption)
Jobs supported
1
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Franchise
Quality Inn, Quality Inn & Suites,
Project location
Caroline County, VA
SBA district office
Richmond District Office
Congressional district
VA-01
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 50% 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 Virginia: $1,860,760.

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 Virginia