Main Street Registry

La Quinta Inn & Suites

Eastland, TX · Hotels (except Casino Hotels) and Motels · NAICS 721110

La Quinta Inn & Suites in Eastland, TX operates in the hotels and motels industry, NAICS 721110, and is a franchise of La Quinta by Wyndham. The business was financed with an SBA 7(a) loan for a change of ownership of $5 million, approved on June 21, 2024 by Open Bank and listed with 17 jobs.

SBA 7(a) loan, change of ownership, approved Jun 21, 2024

$5,000,000 approvedLender: Open Bank25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$5,000,000
SBA-guaranteed amount
$3,750,000 (75% of the approval)
Lender
Open Bank, Los Angeles, CA
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
9.5%, variable
Term
25 years (300 months)
Estimated maturity
June 21, 2049 (estimated, approval date plus term)
Estimated monthly payment
$43,685 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Jul 3, 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
Eastland County, TX
SBA district office
Dallas / Ft Worth District Office
Congressional district
TX-11
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 76% 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 Texas: $1,944,682.

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 Texas