Main Street Registry

America's Best Value Inn & Suites

South Boston, VA · Hotels (except Casino Hotels) and Motels · NAICS 721110

America's Best Value Inn & Suites in South Boston, VA operates in the hotels and motels industry (NAICS 721110) and is a franchise of Americas Best Value Inn. The business was financed with an SBA 7(a) loan for a change of ownership in the amount of $1,929,700, approved on November 2, 2023 by GBank.

SBA 7(a) loan, change of ownership, approved Nov 2, 2023

$1,929,700 approvedLender: GBank25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$1,929,700
SBA-guaranteed amount
$1,447,275 (75% of the approval)
Lender
GBank, Las Vegas, NV
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
10%, variable
Term
25 years (300 months)
Estimated maturity
November 2, 2048 (estimated, approval date plus term)
Estimated monthly payment
$17,535 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Nov 20, 2023
Loan status
Status not reported (SBA exemption)
Jobs supported
2
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Franchise
Americas Best Value Inn
Project location
Halifax County, VA
SBA district office
Richmond District Office
Congressional district
VA-05
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 23% 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 Virginia: $1,860,760.

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 Virginia