Main Street Registry

Ocean Inns NC LLC

Kill Devil Hills, NC · Hotels (except Casino Hotels) and Motels · NAICS 721110

Ocean Inns NC LLC is located in Kill Devil Hills, NC, and the SBA lists its industry as Hotels (except Casino Hotels) and Motels. It was approved for an SBA 7(a) loan of $3,396,000 for a change of ownership on March 18, 2025.

SBA 7(a) loan, change of ownership, approved Mar 18, 2025

Gross approval
$3,396,000
SBA-guaranteed amount
$1,833,840 (54% of the approval)
Lender
Beacon Bank and Trust, Brookline, MA
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
9.75%, variable
Term
25 years (300 months)
Estimated maturity
March 18, 2050 (estimated, approval date plus term)
Estimated monthly payment
$30,263 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Apr 9, 2025
Loan status
Status not reported (SBA exemption)
Jobs supported
9
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Project location
Dare County, NC
SBA district office
North Carolina District Office
Congressional district
NC-03
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)

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