Main Street Registry

Fairfield Inn & Suites Kennesaw

Kennesaw, GA · Hotels (except Casino Hotels) and Motels · NAICS 721110

Fairfield Inn & Suites Kennesaw is a hotel business in Kennesaw, Georgia, in the hotels and motels industry. The business financed real estate or equipment through an SBA 504 loan of $2,507,000, approved on May 16, 2024 by RockPointBank, National Association, with Florida Business Development Corporation as the certified development company. The loan supports 3 jobs and the business operates under the Fairfield by Marriott franchise brand.

SBA 504 loan, approved May 16, 2024

$2,507,000 SBA portionCDC: Florida Business Development Corporation25 years termStatus not reported (SBA exemption)Loan details
SBA (CDC) portion
$2,507,000
Bank portion
$3,500,000
Estimated project size
$6,674,444 (estimated)
Estimated owner equity
$667,444 (estimated, about 10% of the project)
Bank lender
RockPointBank, National Association, Chattanooga, TN
CDC
Florida Business Development Corporation
Processing method
Accredited Lenders Program: CDC with an expedited SBA review
Term
25 years (300 months)
Estimated maturity
May 16, 2049 (estimated, approval date plus term)
First disbursement
Jul 17, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
3
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
Cobb County, GA
SBA district office
Georgia District Office
Congressional district
GA-6
Collateral
Yes

Estimated share of project by source

Bank 52% SBA (CDC) 38% Owner 10%

  • Larger than 49% 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 Georgia: $2,201,121.

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 Georgia