Main Street Registry

Dayton Hotel Suites, LLC

Livonia, MI · Hotels (except Casino Hotels) and Motels · NAICS 721110

Dayton Hotel Suites, LLC is a hotel business in Livonia, Michigan, classified under NAICS 721110 (Hotels, except casino hotels, and motels) and operating as a franchise under Fairfield by Marriott. The business was financed with an SBA 504 loan, which financed real estate or equipment through an SBA 504 loan with a $2,737,000 SBA portion, approved on March 16, 2024 through First Bank of the Lake and the Michigan Certified Development Corporation.

SBA 504 loan, approved Mar 16, 2024

$2,737,000 SBA portionCDC: Michigan Certified Development Corporation25 years termApproved, not yet fundedLoan details
SBA (CDC) portion
$2,737,000
Bank portion
$5,570,000
Estimated project size
$9,230,000 (estimated)
Estimated owner equity
$923,000 (estimated, about 10% of the project)
Bank lender
First Bank of the Lake, Osage Beach, MO
CDC
Michigan Certified Development Corporation
Processing method
Accredited Lenders Program: CDC with an expedited SBA review
Term
25 years (300 months)
Estimated maturity
March 16, 2049 (estimated, approval date plus term)
Loan status
Approved, not yet funded
Jobs supported
10
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Franchise
Fairfield by Marriott/Fairfield Inn & Suites by Marriott/Fairfield Inn by Marriott/Fairfield by Marriott Inn & Suites
Project location
Wayne County, MI
SBA district office
Michigan District Office
Congressional district
MI-11
Collateral
Yes

Estimated share of project by source

Bank 60% SBA (CDC) 30% Owner 10%

  • Larger than 54% 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 Michigan: $2,050,489.

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 Michigan