Main Street Registry

Shree Neelkanth Realty LLC

Wilkes-Barre, PA · Hotels (except Casino Hotels) and Motels · NAICS 721110

Shree Neelkanth Realty LLC, located in Wilkes-Barre, PA, operates in the hotels (except casino hotels) and motels industry. The company financed real estate or equipment through an SBA 504 loan with an SBA portion of $4,444,000, approved on October 8, 2024, through the lender Velocity Commerical Capital and the certified development company Empire State Certified Development Corporation.

SBA 504 loan, approved Oct 8, 2024

$4,444,000 SBA portionCDC: Empire State Certified Development Corporation25 years termStatus not reported (SBA exemption)Loan details
SBA (CDC) portion
$4,444,000
Bank portion
$5,000,000
Estimated project size
$10,493,333 (estimated)
Estimated owner equity
$1,049,333 (estimated, about 10% of the project)
Bank lender
Velocity Commerical Capital, Westlake Village, CA
CDC
Empire State Certified Development Corporation
Processing method
504 Refinancing: refinances existing business debt
Term
25 years (300 months)
Estimated maturity
October 8, 2049 (estimated, approval date plus term)
First disbursement
Mar 12, 2025
Loan status
Status not reported (SBA exemption)
Jobs supported
85
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Project location
Luzerne County, PA
SBA district office
Philadelphia District Office
Congressional district
PA-8
Collateral
Yes

Estimated share of project by source

Bank 48% SBA (CDC) 42% Owner 10%

  • Larger than 83% 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 Pennsylvania: $2,212,724.

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 Pennsylvania