Three Dogs LLC
Three Dogs LLC is located in Oscoda, MI, and the SBA lists its industry as Hotels (except Casino Hotels) and Motels. It was approved for an SBA 7(a) loan of $640,000 for a change of ownership on April 30, 2024.
SBA 7(a) loan, change of ownership, approved Apr 30, 2024
- Gross approval
- $640,000
- SBA-guaranteed amount
- $480,000 (75% of the approval)
- Lender
- Huron Community Bank, East Tawas, MI
- Processing method
- Standard 7(a): the lender submits the application for SBA review
- Initial interest rate
- 8.8%, variable
- Term
- 25 years (300 months)
- Estimated maturity
- April 30, 2049 (estimated, approval date plus term)
- Estimated monthly payment
- $5,283 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- May 20, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 6
- Business type
- Corporation
- NAICS
- 721110, Hotels (except Casino Hotels) and Motels
- Project location
- Iosco County, MI
- SBA district office
- Michigan District Office
- Congressional district
- MI-01
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 1% 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 Michigan: $1,645,728.
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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