Main Street Registry

La Quinta Inns & Suites Moss Point

Moss Point, MS · Hotels (except Casino Hotels) and Motels · NAICS 721110

La Quinta Inns & Suites Moss Point is a hotel and motel business located in Moss Point, Mississippi, in the hotels (except casino hotels) and motels industry. The business was financed with an SBA 7(a) loan for a change of ownership, in the amount of $1,999,000, approved by lender GBank on February 16, 2024.

SBA 7(a) loan, change of ownership, approved Feb 16, 2024

$1,999,000 approvedLender: GBank25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$1,999,000
SBA-guaranteed amount
$1,499,250 (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
February 16, 2049 (estimated, approval date plus term)
Estimated monthly payment
$17,119 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Feb 21, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
5
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Franchise
La Quinta by Wyndham / La Quinta Inn & Suites
Project location
Jackson County, MS
SBA district office
Mississippi District Office
Congressional district
MS-04
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 24% 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 Mississippi: $1,688,600.

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 Mississippi