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Sleep Inn Greensboro Airport

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

Sleep Inn Greensboro Airport is a hotel business in Greensboro, North Carolina, in the hotels (except casino hotels) and motels industry. It was financed with an SBA 7(a) loan for a change of ownership of $5 million, approved on April 18, 2024, by GBank.

SBA 7(a) loan, change of ownership, approved Apr 18, 2024

$5,000,000 approvedLender: GBank298 months termStatus not reported (SBA exemption)Loan details
Gross approval
$5,000,000
SBA-guaranteed amount
$3,750,000 (75% of the approval)
Lender
GBank, Las Vegas, NV
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
9.25%, variable
Term
24 years, 10 months (298 months)
Estimated maturity
February 18, 2049 (estimated, approval date plus term)
Estimated monthly payment
$42,893 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Apr 26, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
16
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Franchise
Sleep Inn by Choice Hotels/Sleep Inn & Suites by Choice Hotels
Project location
Guilford 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 76% 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