Main Street Registry

Saroj Hospitality LLC

Jamestown, ND · Hotels (except Casino Hotels) and Motels · NAICS 721110

Saroj Hospitality LLC, located in Jamestown, North Dakota, operates in the hotels and motels industry and is a Holiday Inn Express franchise. The business was financed with an SBA 504 loan, approved on June 4, 2024, that financed real estate or equipment through an SBA 504 loan, with an SBA portion of $1,169,000 and Midwest Bank as the lender, and the loan reports 12 jobs.

SBA 504 loan, approved Jun 4, 2024

$1,169,000 SBA portionCDC: Midwest Business Finance Corporation25 years termStatus not reported (SBA exemption)Loan details
SBA (CDC) portion
$1,169,000
Bank portion
$1,625,500
Estimated project size
$3,105,000 (estimated)
Estimated owner equity
$310,500 (estimated, about 10% of the project)
Bank lender
Midwest Bank, Detroit Lakes, MN
CDC
Midwest Business Finance Corporation
Processing method
Accredited Lenders Program: CDC with an expedited SBA review
Term
25 years (300 months)
Estimated maturity
June 4, 2049 (estimated, approval date plus term)
First disbursement
Dec 11, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
12
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Franchise
Holiday Inn Express/Holiday Inn Express & Suites
Project location
Stutsman County, ND
SBA district office
North Dakota District Office
Congressional district
ND-0
Collateral
Yes

Estimated share of project by source

Bank 52% SBA (CDC) 38% Owner 10%

  • Larger than 7% of expansion loans in Hotels (except Casino Hotels) and Motels on this site.
  • Average expansion loan in Hotels (except Casino Hotels) and Motels: $2,843,226.
  • Average expansion loan in North Dakota: $1,912,640.

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 North Dakota