Main Street Registry

BestPals LLC

Albuquerque, NM · Hotels (except Casino Hotels) and Motels · NAICS 721110

BestPals LLC is a hotel business in Albuquerque, New Mexico, in the industry of hotels (except casino hotels) and motels, and operates as a franchise of Econo Lodge by Choice Hotels. The business financed real estate or equipment through an SBA 504 loan of $1,009,000 (SBA portion), with U.S. Bank, National Association as the bank lender and B:Side Capital as the CDC, approved on July 29, 2024.

SBA 504 loan, approved Jul 29, 2024

$1,009,000 SBA portionCDC: B:Side Capital25 years termStatus not reported (SBA exemption)Loan details
SBA (CDC) portion
$1,009,000
Bank portion
$1,377,750
Estimated project size
$2,651,944 (estimated)
Estimated owner equity
$265,194 (estimated, about 10% of the project)
Bank lender
U.S. Bank, National Association, Cincinnati, OH
CDC
B:Side Capital
Processing method
Accredited Lenders Program: CDC with an expedited SBA review
Term
25 years (300 months)
Estimated maturity
July 29, 2049 (estimated, approval date plus term)
First disbursement
Oct 16, 2024
Loan status
Status not reported (SBA exemption)
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Franchise
Econo Lodge by Choice Hotels/Econo Lodge Inn & Suites by Choice Hotels
Project location
Bernalillo County, NM
SBA district office
New Mexico District Office
Congressional district
NM-1
Collateral
Yes

Estimated share of project by source

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

  • Average expansion loan in Hotels (except Casino Hotels) and Motels: $2,843,226.
  • Average expansion loan in New Mexico: $2,251,714.

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 New Mexico