Main Street Registry

Madhavam 1 LLC

Hobart, IN · Hotels (except Casino Hotels) and Motels · NAICS 721110

Madhavam 1 LLC is a hotel business located in Hobart, Indiana, in the hotels (except casino hotels) and motels industry, and operates under a franchise listed as Comfort Inn, Comfort Inn & Suites & Comfort Suites. The company was financed with an SBA 7(a) loan for a change of ownership of $4,010,000, approved on April 21, 2025 by Millennium Bank, and the loan reports 7 jobs.

SBA 7(a) loan, change of ownership, approved Apr 21, 2025

$4,010,000 approvedLender: Millennium Bank25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$4,010,000
SBA-guaranteed amount
$3,007,500 (75% of the approval)
Lender
Millennium Bank, Des Plaines, IL
Processing method
Standard 7(a): the lender submits the application for SBA review
Initial interest rate
9.25%, variable
Term
25 years (300 months)
Estimated maturity
April 21, 2050 (estimated, approval date plus term)
Estimated monthly payment
$34,341 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Jul 1, 2025
Loan status
Status not reported (SBA exemption)
Jobs supported
7
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Franchise
Comfort Inn, Comfort Inn & Suites & Comfort Suites
Project location
Lake County, IN
SBA district office
Indiana District Office
Congressional district
IN-01
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 62% 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 Indiana: $1,995,900.

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 Indiana