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Midwestern Hospitality LLC

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

Midwestern Hospitality LLC, located in Merrillville, IN, 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 totaling $4,755,000, approved on January 28, 2025, through Shoreham Bank.

SBA 7(a) loan, change of ownership, approved Jan 28, 2025

$4,755,000 approvedLender: Shoreham Bank25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$4,755,000
SBA-guaranteed amount
$3,566,250 (75% of the approval)
Lender
Shoreham Bank, Warwick, RI
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
8.5%, variable
Term
25 years (300 months)
Estimated maturity
January 28, 2050 (estimated, approval date plus term)
Estimated monthly payment
$38,289 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Mar 26, 2025
Loan status
Status not reported (SBA exemption)
Jobs supported
10
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
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 74% 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