Main Street Registry

Radha Raman, LLC

Spartanburg, SC · Hotels (except Casino Hotels) and Motels · NAICS 721110

Radha Raman, LLC is located in Spartanburg, SC, and the SBA lists its industry as Hotels (except Casino Hotels) and Motels. It was approved for an SBA 7(a) loan of $2,288,000 for a change of ownership on July 18, 2024.

SBA 7(a) loan, change of ownership, approved Jul 18, 2024

Gross approval
$2,288,000
SBA-guaranteed amount
$1,716,000 (75% of the approval)
Lender
GBank, Las Vegas, NV
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
9.75%, variable
Term
25 years (300 months)
Estimated maturity
July 18, 2049 (estimated, approval date plus term)
Estimated monthly payment
$20,389 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Aug 7, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
11
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Franchise
Quality Inn, Quality Inn & Suites,
Project location
Spartanburg County, SC
SBA district office
South Carolina District Office
Congressional district
SC-04
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
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 South Carolina