Main Street Registry

Econo Lodge Inn & Suites

Norton, VA · Hotels (except Casino Hotels) and Motels · NAICS 721110

Econo Lodge Inn & Suites is a hotel and motel business in Norton, Virginia, 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 of $1,245,000, approved on December 5, 2025 by US Metro Bank. The business operates as a franchise of Econo Lodge by Choice Hotels.

SBA 7(a) loan, change of ownership, approved Dec 5, 2025

$1,245,000 approvedLender: US Metro Bank25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$1,245,000
SBA-guaranteed amount
$933,750 (75% of the approval)
Lender
US Metro Bank, Garden Grove, CA
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
8.25%, variable
Term
25 years (300 months)
Estimated maturity
December 5, 2050 (estimated, approval date plus term)
Estimated monthly payment
$9,816 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Dec 15, 2025
Loan status
Status not reported (SBA exemption)
Jobs supported
6
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
Norton City 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 8% 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