Main Street Registry

Great East Land Hotel Group, Inc.

Tempe, AZ · Hotels (except Casino Hotels) and Motels · NAICS 721110

Great East Land Hotel Group, Inc. is a hotel business in Tempe, Arizona, classified under the NAICS industry for hotels (except casino hotels) and motels. The company financed real estate or equipment through an SBA 504 loan of $5,000,000, approved on December 13, 2024 by United Business Bank with The Mortgage Capital Development Corporation as the certified development company.

SBA 504 loan, approved Dec 13, 2024

$5,000,000 SBA portionCDC: The Mortgage Capital Development Corporation25 years termStatus not reported (SBA exemption)Loan details
SBA (CDC) portion
$5,000,000
Bank portion
$8,750,000
Estimated project size
$15,277,778 (estimated)
Estimated owner equity
$1,527,778 (estimated, about 10% of the project)
Bank lender
United Business Bank, Walnut Creek, CA
CDC
The Mortgage Capital Development Corporation
Processing method
Accredited Lenders Program: CDC with an expedited SBA review
Term
25 years (300 months)
Estimated maturity
December 13, 2049 (estimated, approval date plus term)
First disbursement
Feb 12, 2025
Loan status
Status not reported (SBA exemption)
Jobs supported
16
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Franchise
Holiday Inn Express/Holiday Inn Express & Suites
Project location
Maricopa County, AZ
SBA district office
Arizona District Office
Congressional district
AZ-7
Collateral
Yes

Estimated share of project by source

Bank 57% SBA (CDC) 33% Owner 10%

  • Larger than 90% 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 Arizona: $2,074,452.

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.

Is this your company? Claim or correct this listing. See Corrections.

Same industry in Arizona