Main Street Registry

Zen Real Estate, LLC

Lake City, FL · Hotels (except Casino Hotels) and Motels · NAICS 721110

Zen Real Estate, LLC, located in Lake City, FL, operates in the hotels (except casino hotels) and motels industry. The company was financed with an SBA 7(a) loan for a change of ownership, in the amount of $2,565,000, with The Huntington National Bank as lender and an approval date of March 1, 2024. The business is listed as a franchise, Red Roof Inn.

SBA 7(a) loan, change of ownership, approved Mar 1, 2024

$2,565,000 approvedLender: The Huntington National Bank303 months termStatus not reported (SBA exemption)Loan details
Gross approval
$2,565,000
SBA-guaranteed amount
$1,923,750 (75% of the approval)
Lender
The Huntington National Bank, Columbus, OH
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
10.75%, variable
Term
25 years, 3 months (303 months)
Estimated maturity
June 1, 2049 (estimated, approval date plus term)
Estimated monthly payment
$24,630 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
May 22, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
10
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Franchise
Red Roof Inn
Project location
Columbia County, FL
SBA district office
North Florida District Office
Congressional district
FL-02
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 38% 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 Florida: $1,808,559.

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 Florida