Main Street Registry

Motel 6 - Kilgore

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

Motel 6 - Kilgore is a hotel and motel business located in Kilgore, Texas, classified under NAICS code 721110 (Hotels, except casino hotels and motels). The business was financed with an SBA 7(a) loan for a change of ownership, with a loan amount of $2,182,500, approved by lender GBank on November 16, 2023.

SBA 7(a) loan, change of ownership, approved Nov 16, 2023

$2,182,500 approvedLender: GBank25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$2,182,500
SBA-guaranteed amount
$1,636,875 (75% of the approval)
Lender
GBank, Las Vegas, NV
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
9.75%, variable
Term
25 years (300 months)
Estimated maturity
November 16, 2048 (estimated, approval date plus term)
Estimated monthly payment
$19,449 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Dec 20, 2023
Loan status
Status not reported (SBA exemption)
Jobs supported
1
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Franchise
Motel 6
Project location
Gregg County, TX
SBA district office
Dallas / Ft Worth District Office
Congressional district
TX-01
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 29% 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