Main Street Registry

Mittas at Dover LLC

Dover, NJ · Hotels (except Casino Hotels) and Motels · NAICS 721110

Mittas at Dover LLC is a hotel business in Dover, New Jersey, classified under NAICS 721110 for hotels (except casino hotels) and motels, and it operates as a TownePlace Suites by Marriott franchise. The business was financed with an SBA 7(a) loan for a change of ownership, with a loan amount of $5,000,000 approved by GBank on December 16, 2024. The loan supports 27 jobs.

SBA 7(a) loan, change of ownership, approved Dec 16, 2024

$5,000,000 approvedLender: GBank25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$5,000,000
SBA-guaranteed amount
$3,750,000 (75% of the approval)
Lender
GBank, Las Vegas, NV
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
8.75%, variable
Term
25 years (300 months)
Estimated maturity
December 16, 2049 (estimated, approval date plus term)
Estimated monthly payment
$41,107 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Dec 20, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
27
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Franchise
TownePlace Suites by Marriott
Project location
Morris County, NJ
SBA district office
New Jersey District Office
Congressional district
NJ-07
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 76% 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 New Jersey: $1,626,307.

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 New Jersey