Main Street Registry

Village Inn Holt

Holt, MI · Hotels (except Casino Hotels) and Motels · NAICS 721110

Village Inn Holt is a hotel and motel business in Holt, MI, in the hotels (except casino hotels) and motels industry. It was financed with an SBA 7(a) loan for a change of ownership, with a loan amount of $1,115,000 approved on June 18, 2024 through Centerstone SBA Lending, Inc.

SBA 7(a) loan, change of ownership, approved Jun 18, 2024

$1,115,000 approvedLender: Centerstone SBA Lending, Inc.25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$1,115,000
SBA-guaranteed amount
$836,250 (75% of the approval)
Lender
Centerstone SBA Lending, Inc., Los Angeles, CA
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
10%, variable
Term
25 years (300 months)
Estimated maturity
June 18, 2049 (estimated, approval date plus term)
Estimated monthly payment
$10,132 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Jun 27, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
27
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Project location
Ingham County, MI
SBA district office
Columbus District Office
Congressional district
MI-07
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 7% 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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Same industry in Michigan