Main Street Registry

Quality Inn Reidsville

Reidsville, NC · Hotels (except Casino Hotels) and Motels · NAICS 721110

Quality Inn Reidsville is a hotel and motel business in Reidsville, North Carolina, classified under NAICS 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 $2,938,400 approved through United FCU on November 19, 2024. The loan supports 14 jobs and is associated with the Quality Inn and Quality Inn & Suites franchise brands.

SBA 7(a) loan, change of ownership, approved Nov 19, 2024

$2,938,400 approvedLender: United FCU25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$2,938,400
SBA-guaranteed amount
$2,203,800 (75% of the approval)
Lender
United FCU, Saint Joseph, MI
Processing method
Standard 7(a): the lender submits the application for SBA review
Initial interest rate
9%, variable
Term
25 years (300 months)
Estimated maturity
November 19, 2049 (estimated, approval date plus term)
Estimated monthly payment
$24,659 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Nov 22, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
14
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Franchise
Quality Inn, Quality Inn & Suites,
Project location
Rockingham County, NC
SBA district office
North Carolina District Office
Congressional district
NC-06
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 46% 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 North Carolina: $1,952,444.

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