Main Street Registry

EconoLodge in Moreno Valley

Moreno Valley, CA · Hotels (except Casino Hotels) and Motels · NAICS 721110

EconoLodge in Moreno Valley is a hotel and motel business in Moreno Valley, California, classified under NAICS 721110 (Hotels, except Casino Hotels, and Motels). The business financed real estate or equipment through an SBA 504 loan with an SBA portion of $1,853,000, approved on October 31, 2023 through Cathay Bank and The Mortgage Capital Development Corporation.

SBA 504 loan, approved Oct 31, 2023

$1,853,000 SBA portionCDC: The Mortgage Capital Development Corporation25 years termStatus not reported (SBA exemption)Loan details
SBA (CDC) portion
$1,853,000
Bank portion
$1,797,000
Estimated project size
$4,055,556 (estimated)
Estimated owner equity
$405,556 (estimated, about 10% of the project)
Bank lender
Cathay Bank, Los Angeles, CA
CDC
The Mortgage Capital Development Corporation
Processing method
504 Refinancing: refinances existing business debt
Term
25 years (300 months)
Estimated maturity
October 31, 2048 (estimated, approval date plus term)
First disbursement
Apr 17, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
8
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Project location
Riverside County, CA
SBA district office
Santa Ana District Office
Congressional district
CA-41
Collateral
Yes

Estimated share of project by source

Bank 44% SBA (CDC) 46% Owner 10%

  • Larger than 29% 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 California: $2,161,468.

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 California