Main Street Registry

Omsaishiv Inc

Ardmore, TN · Hotels (except Casino Hotels) and Motels · NAICS 721110

Omsaishiv Inc is located in Ardmore, TN, and the SBA lists its industry as Hotels (except Casino Hotels) and Motels. It was approved for an SBA 7(a) loan of $1,738,300 for a change of ownership on November 9, 2023.

SBA 7(a) loan, change of ownership, approved Nov 9, 2023

Gross approval
$1,738,300
SBA-guaranteed amount
$1,303,725 (75% of the approval)
Lender
Hometown Bank, Kent, OH
Processing method
Standard 7(a): the lender submits the application for SBA review
Initial interest rate
10%, variable
Term
23 years (276 months)
Estimated maturity
November 9, 2046 (estimated, approval date plus term)
Estimated monthly payment
$16,117 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Dec 4, 2023
Loan status
Status not reported (SBA exemption)
Jobs supported
2
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Franchise
Rodeway Inn by Choice Hotels/Rodeway Inn & Suites by Choice Hotels
Project location
Giles County, TN
SBA district office
Tennessee District Office
Congressional district
TN-04
Collateral
Yes
Guaranteed portion sold on secondary market
Not reported as sold
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 Tennessee