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HomeTown Studios Greensboro

Greensboro, NC · Hotels (except Casino Hotels) and Motels · NAICS 721110

HomeTown Studios Greensboro is a hotel and motel business in Greensboro, North Carolina, classified under NAICS code 721110 (Hotels, except Casino Hotels and Motels), and operates as a HomeTowne Studios by Red Roof franchise. The business was financed with an SBA 7(a) loan for a change of ownership of $4,788,000, approved on August 14, 2024, by lender GBank and associated with 7 jobs.

SBA 7(a) loan, change of ownership, approved Aug 14, 2024

$4,788,000 approvedLender: GBank25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$4,788,000
SBA-guaranteed amount
$3,591,000 (75% of the approval)
Lender
GBank, Las Vegas, NV
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
9.25%, variable
Term
25 years (300 months)
Estimated maturity
August 14, 2049 (estimated, approval date plus term)
Estimated monthly payment
$41,004 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Aug 23, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
7
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Franchise
HomeTowne Studios by Red Roof
Project location
Guilford County, NC
SBA district office
North Carolina District Office
Congressional district
NC-06
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 74% 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 North Carolina: $1,952,444.

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 North Carolina