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Scottish Inns - Collinsville & Martinsville

Collinsville, VA · Hotels (except Casino Hotels) and Motels · NAICS 721110

Scottish Inns - Collinsville & Martinsville is a hotel and motel business located in Collinsville, Virginia, 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 of $550,000, approved on January 27, 2026 by US Metro Bank.

SBA 7(a) loan, change of ownership, approved Jan 27, 2026

$550,000 approvedLender: US Metro Bank25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$550,000
SBA-guaranteed amount
$412,500 (75% of the approval)
Lender
US Metro Bank, Garden Grove, CA
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
7.75%, variable
Term
25 years (300 months)
Estimated maturity
January 27, 2051 (estimated, approval date plus term)
Estimated monthly payment
$4,154 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Mar 20, 2026
Loan status
Status not reported (SBA exemption)
Jobs supported
9
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Franchise
Scottish Inns/Scottish Suites/Scottish Inns & Suites
Project location
Henry County, VA
SBA district office
Richmond District Office
Congressional district
VA-09
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Average acquisition loan in Hotels (except Casino Hotels) and Motels: $3,241,374.
  • Average acquisition loan in Virginia: $1,860,760.

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 Virginia