Main Street Registry

Super 8 / Baymont Inn By Wyndham Morganton

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

Super 8 / Baymont Inn By Wyndham Morganton is a hotel and motel business in Morganton, NC, 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 $2.73 million, approved on December 15, 2023 by GBank, and is a franchise operating under the Super 8 by Wyndham and Super 8 brands.

SBA 7(a) loan, change of ownership, approved Dec 15, 2023

$2,730,000 approvedLender: GBank25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$2,730,000
SBA-guaranteed amount
$2,047,500 (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
December 15, 2048 (estimated, approval date plus term)
Estimated monthly payment
$23,852 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Dec 22, 2023
Loan status
Status not reported (SBA exemption)
Jobs supported
5
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Franchise
Super 8 by Wyndhan / Super 8
Project location
Burke County, NC
SBA district office
North Carolina District Office
Congressional district
NC-05
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 42% 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