Main Street Registry

Comfort Inn & Suites Lexington

Lexington, NC · Hotels (except Casino Hotels) and Motels · NAICS 721110

Comfort Inn & Suites Lexington is a hotel and motel business in Lexington, NC, classified under the industry Hotels (except Casino Hotels) and Motels. The business was financed with an SBA 7(a) loan for a change of ownership, approved on November 6, 2024 by GBank, with a loan amount of $4,388,000.

SBA 7(a) loan, change of ownership, approved Nov 6, 2024

$4,388,000 approvedLender: GBank25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$4,388,000
SBA-guaranteed amount
$3,291,000 (75% of the approval)
Lender
GBank, Las Vegas, NV
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
9%, variable
Term
25 years (300 months)
Estimated maturity
November 6, 2049 (estimated, approval date plus term)
Estimated monthly payment
$36,824 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Jan 7, 2025
Loan status
Status not reported (SBA exemption)
Jobs supported
13
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Franchise
Comfort Inn, Comfort Inn & Suites & Comfort Suites
Project location
Davidson County, NC
SBA district office
North Carolina District Office
Congressional district
NC-13
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 68% 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 North Carolina: $1,952,444.

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 North Carolina