Best Western Plus Tech Medical Center Inn

SBA (CDC) portion

$2,362,000

Bank portion

$3,298,000

Estimated project size

$6,288,889 (estimated)

Estimated owner equity

$628,889 (estimated, about 10% of the project)

Bank lender

American Bank of Commerce, Wolfforth, TX

CDC

Capital Certified Development Corporation

Processing method

Accredited Lenders Program: CDC with an expedited SBA review

Term

25 years (300 months)

Estimated maturity

October 19, 2048 (estimated, approval date plus term)

First disbursement

Apr 17, 2024

Loan status

Status not reported (SBA exemption)

Jobs supported

1

Business type

Corporation

NAICS

721110, Hotels (except Casino Hotels) and Motels

Franchise

Best Western - Best Western Plus - Best Western Premier- Executive Residency by Best Western- @Home by Best Western - GLo - Aiden - Membership Agreement

Project location

Lubbock County, TX

SBA district office

Lubbock District Office

Congressional district

TX-19

Collateral

Yes

Estimated share of project by source

Bank 52% SBA (CDC) 38% Owner 10%

• Larger than 45% 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 Texas: $2,316,979.

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.