Main Street Registry

Red Roof Inn Raleigh North-Crabtree Mall/PNC Arena

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

Red Roof Inn Raleigh North-Crabtree Mall/PNC Arena is a hotel and motel business located in Raleigh, North Carolina, in the Hotels (except Casino Hotels) and Motels industry. The company was financed with an SBA 7(a) loan for a change of ownership of $3,448,000, approved on September 5, 2024, through lender GBank, and the loan lists 24 jobs and a franchise affiliation with Red Roof Inn.

SBA 7(a) loan, change of ownership, approved Sep 5, 2024

$3,448,000 approvedLender: GBank25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$3,448,000
SBA-guaranteed amount
$2,586,000 (75% of the approval)
Lender
GBank, Las Vegas, NV
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
9.5%, variable
Term
25 years (300 months)
Estimated maturity
September 5, 2049 (estimated, approval date plus term)
Estimated monthly payment
$30,125 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Sep 13, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
24
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Franchise
Red Roof Inn
Project location
Wake County, NC
SBA district office
North Carolina District Office
Congressional district
NC-02
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 55% 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