Main Street Registry

Big Stone Hospitality LLC

Big Stone Gap, VA · Hotels (except Casino Hotels) and Motels · NAICS 721110

Big Stone Hospitality LLC is a hotel and motel business in Big Stone Gap, Virginia, in the industry of hotels (except casino hotels) and motels. It was financed with an SBA 7(a) loan for a change of ownership, approved on December 5, 2024, for $4,480,000 through lender GBank, and the business reports 13 jobs.

SBA 7(a) loan, change of ownership, approved Dec 5, 2024

$4,480,000 approvedLender: GBank25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$4,480,000
SBA-guaranteed amount
$3,360,000 (75% of the approval)
Lender
GBank, Las Vegas, NV
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
8.5%, variable
Term
25 years (300 months)
Estimated maturity
December 5, 2049 (estimated, approval date plus term)
Estimated monthly payment
$36,074 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Dec 30, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
13
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Franchise
Quality Inn, Quality Inn & Suites,
Project location
Wise County, VA
SBA district office
Richmond District Office
Congressional district
VA-09
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 70% 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