Super 8 Motel
Super 8 Motel is located in West Greenwich, RI, and the SBA lists its industry as Hotels (except Casino Hotels) and Motels. It was approved for an SBA 504 loan ($1,223,000 SBA portion) on December 27, 2024 to finance real estate or equipment.
SBA 504 loan, approved Dec 27, 2024
- SBA (CDC) portion
- $1,223,000
- Bank portion
- $2,250,000
- Estimated project size
- $3,858,889 (estimated)
- Estimated owner equity
- $385,889 (estimated, about 10% of the project)
- Bank lender
- Centreville Bank, West Warwick, RI
- Processing method
- 504 Refinancing: refinances existing business debt
- Term
- 25 years (300 months)
- Estimated maturity
- December 27, 2049 (estimated, approval date plus term)
- First disbursement
- Mar 11, 2026
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 7
- Business type
- Corporation
- NAICS
- 721110, Hotels (except Casino Hotels) and Motels
- Franchise
- Super 8 by Wyndhan / Super 8
- Project location
- Kent County, RI
- SBA district office
- Rhode Island District Office
- Congressional district
- RI-2
- Collateral
- Yes
Estimated share of project by source
Bank 58% SBA (CDC) 32% Owner 10%
- Larger than 9% of expansion loans in Hotels (except Casino Hotels) and Motels on this site.
- Average expansion loan in Hotels (except Casino Hotels) and Motels: $2,843,226.
- Average expansion loan in Rhode Island: $1,662,733.
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 Rhode Island
- Arham, LLC, Rumford
- Holiday Inn Express Coventry, Coventry
- Holiday Inn Express, Smithfield
- Hanuman Hospitality, Inc., Middletown