Main Street Registry

S&A Patel LLC

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

S&A Patel LLC is a hotel and motel business located in Rockingham, North Carolina, classified under NAICS 721110 (Hotels, except Casino Hotels and Motels). The company was financed with an SBA 7(a) loan for a change of ownership of $3.28 million, approved by GBank on April 22, 2024, and the loan's status is recorded as paid in full. The loan supported 8 jobs and the business is listed as a franchise under Quality Inn and Quality Inn & Suites.

SBA 7(a) loan, change of ownership, approved Apr 22, 2024

$3,280,000 approvedLender: GBank25 years termPaid in fullLoan details
Gross approval
$3,280,000
SBA-guaranteed amount
$2,460,000 (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
April 22, 2049 (estimated, approval date plus term)
Estimated monthly payment
$28,657 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Apr 30, 2024
Loan status
Paid in full
Jobs supported
8
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Franchise
Quality Inn, Quality Inn & Suites,
Project location
Richmond County, NC
SBA district office
North Carolina District Office
Congressional district
NC-09
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 52% 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