Main Street Registry

Kms Motel LLC

Phenix City, AL · Hotels (except Casino Hotels) and Motels · NAICS 721110

Kms Motel LLC is a hotel and motel business located in Phenix City, Alabama, operating in the Hotels (except Casino Hotels) and Motels industry. The company was financed with an SBA 7(a) loan for a change of ownership of $2,125,000, approved on January 30, 2024, by Hanover Community Bank.

SBA 7(a) loan, change of ownership, approved Jan 30, 2024

Gross approval
$2,125,000
SBA-guaranteed amount
$1,593,750 (75% of the approval)
Lender
Hanover Community Bank, Mineola, NY
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
10.25%, variable
Term
25 years (300 months)
Estimated maturity
January 30, 2049 (estimated, approval date plus term)
Estimated monthly payment
$19,686 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Mar 27, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
16
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Franchise
Budgetel
Project location
Russell County, AL
SBA district office
Alabama District Office
Congressional district
AL-03
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.

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Same industry in Alabama