Main Street Registry

dba Quality Inn & Suites

Myrtle Beach, SC · Hotels (except Casino Hotels) and Motels · NAICS 721110

dba Quality Inn & Suites, located in Myrtle Beach, SC, operates in the hotels (except casino hotels) and motels industry. The company financed real estate or equipment through an SBA 504 loan with an SBA portion of $2,172,000, approved on January 5, 2024, through a loan from Grasshopper Bank National Association and the certified development company Provident Business Financial Services, Inc.

SBA 504 loan, approved Jan 5, 2024

$2,172,000 SBA portionCDC: Provident Business Financial Services, Inc.25 years termStatus not reported (SBA exemption)Loan details
SBA (CDC) portion
$2,172,000
Bank portion
$2,800,000
Estimated project size
$5,524,444 (estimated)
Estimated owner equity
$552,444 (estimated, about 10% of the project)
Bank lender
Grasshopper Bank National Association, New York, NY
CDC
Provident Business Financial Services, Inc.
Processing method
504 Refinancing: refinances existing business debt
Term
25 years (300 months)
Estimated maturity
January 5, 2049 (estimated, approval date plus term)
First disbursement
May 15, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
9
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Franchise
Quality Inn, Quality Inn & Suites,
Project location
Horry County, SC
SBA district office
South Carolina District Office
Congressional district
SC-7
Collateral
Yes

Estimated share of project by source

Bank 51% SBA (CDC) 39% Owner 10%

  • Larger than 38% 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 South Carolina: $2,088,205.

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 South Carolina