Main Street Registry

Reit 400 LLC

Venice, FL · Hotels (except Casino Hotels) and Motels · NAICS 721110

Reit 400 LLC is located in Venice, FL, and the SBA lists its industry as Hotels (except Casino Hotels) and Motels. It was approved for an SBA 7(a) loan of $5,000,000 for a change of ownership on November 4, 2023.

SBA 7(a) loan, change of ownership, approved Nov 4, 2023

Gross approval
$5,000,000
SBA-guaranteed amount
$3,750,000 (75% of the approval)
Lender
Millennium Bank, Des Plaines, IL
Processing method
Standard 7(a): the lender submits the application for SBA review
Initial interest rate
10.25%, variable
Term
25 years (300 months)
Estimated maturity
November 4, 2048 (estimated, approval date plus term)
Estimated monthly payment
$46,319 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Dec 1, 2023
Loan status
Paid in full
Jobs supported
23
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Franchise
Best Western - Best Western Plus - Best Western Premier- Executive Residency by Best Western- @Home by Best Western - GLo - Aiden - Membership Agreement
Project location
Sarasota County, FL
SBA district office
South Florida District Office
Congressional district
FL-17
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 Florida