Mayvember Limited Liability Company
Mayvember Limited Liability Company is located in Post Falls, ID, and the SBA lists its industry as Hotels (except Casino Hotels) and Motels. It was approved for an SBA 7(a) loan of $4,100,000 for a change of ownership on January 10, 2024.
SBA 7(a) loan, change of ownership, approved Jan 10, 2024
- Gross approval
- $4,100,000
- SBA-guaranteed amount
- $3,075,000 (75% of the approval)
- Lender
- New Millennium Bank, Fort Lee, NJ
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 9.25%, variable
- Term
- 25 years (300 months)
- Estimated maturity
- January 10, 2049 (estimated, approval date plus term)
- Estimated monthly payment
- $35,112 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jan 25, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 9
- Business type
- Corporation
- NAICS
- 721110, Hotels (except Casino Hotels) and Motels
- Franchise
- Sleep Inn by Choice Hotels/Sleep Inn & Suites by Choice Hotels
- Project location
- Kootenai County, ID
- SBA district office
- Seattle District Office
- Congressional district
- ID-01
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 63% 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 Idaho: $1,527,113.
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 Idaho
- Super 8 by Wyndham Boise, Boise