Main Street Registry

Ramada Effingham Il

Effingham, IL · Hotels (except Casino Hotels) and Motels · NAICS 721110

Ramada Effingham Il is located in Effingham, IL, and the SBA lists its industry as Hotels (except Casino Hotels) and Motels. It was approved for an SBA 7(a) loan of $1,552,200 for a change of ownership on December 3, 2025.

SBA 7(a) loan, change of ownership, approved Dec 3, 2025

Gross approval
$1,552,200
SBA-guaranteed amount
$1,164,150 (75% of the approval)
Lender
GBank, Las Vegas, NV
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
8.25%, variable
Term
25 years (300 months)
Estimated maturity
December 3, 2050 (estimated, approval date plus term)
Estimated monthly payment
$12,238 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Dec 12, 2025
Loan status
Status not reported (SBA exemption)
Jobs supported
3
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Franchise
Ramada / Ramada by Wyndham / Ramada Plaza / Ramada Plaza by Wyndham
Project location
Effingham County, IL
SBA district office
Illinois District Office
Congressional district
IL-15
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 Illinois