Main Street Registry

Ramada by Wyndham Kent

Kent, WA · Hotels (except Casino Hotels) and Motels · NAICS 721110

Ramada by Wyndham Kent, located in Kent, WA, operates in the hotels and motels industry (NAICS 721110). It was financed with an SBA 7(a) loan for a change of ownership of $5 million, approved on April 17, 2024, by US Metro Bank.

SBA 7(a) loan, change of ownership, approved Apr 17, 2024

$5,000,000 approvedLender: US Metro Bank25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$5,000,000
SBA-guaranteed amount
$3,750,000 (75% of the approval)
Lender
US Metro Bank, Garden Grove, CA
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
10%, variable
Term
25 years (300 months)
Estimated maturity
April 17, 2049 (estimated, approval date plus term)
Estimated monthly payment
$45,435 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
May 14, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
14
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Project location
King County, WA
SBA district office
Seattle District Office
Congressional district
WA-08
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 Washington: $1,784,595.

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 Washington