Main Street Registry

La Quinta Inn & Suites

Ocala, FL · Hotels (except Casino Hotels) and Motels · NAICS 721110

La Quinta Inn & Suites in Ocala, Florida, operates in the hotels and motels industry and is a La Quinta by Wyndham franchise. The business financed real estate or equipment through an SBA 504 loan of $3,544,000, approved on July 26, 2024, with Central Bank as the lender and Florida Business Development Corporation as the certified development company.

SBA 504 loan, approved Jul 26, 2024

$3,544,000 SBA portionCDC: Florida Business Development Corporation25 years termStatus not reported (SBA exemption)Loan details
SBA (CDC) portion
$3,544,000
Bank portion
$4,950,000
Estimated project size
$9,437,778 (estimated)
Estimated owner equity
$943,778 (estimated, about 10% of the project)
Bank lender
Central Bank, Tampa, FL
CDC
Florida Business Development Corporation
Processing method
504 Basic: standard SBA processing through a CDC
Term
25 years (300 months)
Estimated maturity
July 26, 2049 (estimated, approval date plus term)
First disbursement
Oct 16, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
17
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Franchise
La Quinta by Wyndham / La Quinta Inn & Suites
Project location
Marion County, FL
SBA district office
North Florida District Office
Congressional district
FL-2
Collateral
Yes

Estimated share of project by source

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

  • Larger than 70% 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 Florida: $2,058,496.

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 Florida