Main Street Registry

Shiva Sai Hotel LLC

North Olmsted, OH · Hotels (except Casino Hotels) and Motels · NAICS 721110

Shiva Sai Hotel LLC is a hotel business in North Olmsted, Ohio, classified under hotels (except casino hotels) and motels. The company was financed with an SBA 7(a) loan for a change of ownership, with a loan amount of $5,000,000 from GBank, approved on December 20, 2024. The business operates under a Holiday Inn franchise and is reported to support 20 jobs.

SBA 7(a) loan, change of ownership, approved Dec 20, 2024

$5,000,000 approvedLender: GBank25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$5,000,000
SBA-guaranteed amount
$3,750,000 (75% of the approval)
Lender
GBank, Las Vegas, NV
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
9%, variable
Term
25 years (300 months)
Estimated maturity
December 20, 2049 (estimated, approval date plus term)
Estimated monthly payment
$41,960 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Dec 30, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
20
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Franchise
Holiday Inn/Holiday Inn & Suites/Holiday Inn Resort
Project location
Cuyahoga County, OH
SBA district office
Columbus District Office
Congressional district
OH-09
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 Ohio: $1,840,340.

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 Ohio