Super 8 Motel
Super 8 Motel is located in Midlothian, VA, and the SBA lists its industry as Hotels (except Casino Hotels) and Motels. It was approved for an SBA 504 loan ($1,281,000 SBA portion) on July 25, 2024 to finance real estate or equipment.
SBA 504 loan, approved Jul 25, 2024
- SBA (CDC) portion
- $1,281,000
- Bank portion
- $1,250,000
- Estimated project size
- $2,812,222 (estimated)
- Estimated owner equity
- $281,222 (estimated, about 10% of the project)
- Bank lender
- East West Bank, Pasadena, CA
- Processing method
- 504 Refinancing: refinances existing business debt
- Term
- 25 years (300 months)
- Estimated maturity
- July 25, 2049 (estimated, approval date plus term)
- First disbursement
- Oct 16, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 4
- Business type
- Corporation
- NAICS
- 721110, Hotels (except Casino Hotels) and Motels
- Franchise
- Super 8 by Wyndhan / Super 8
- Project location
- Chesterfield County, VA
- SBA district office
- Richmond District Office
- Congressional district
- VA-4
- Collateral
- Yes
Estimated share of project by source
Bank 44% SBA (CDC) 46% Owner 10%
- Larger than 11% 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 Virginia: $1,938,955.
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
- Colonial Hospitality Inc., Colonial Beach
- Sadguru LLC, North Chesterfield
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- Holiday Inn Express & Suites Chesapeake, Chesapeake
- Om Namah LLC, Williamsburg
- AUR Inc., Galax
- Clarion Pointe, Staunton
- Quality Inn, Warsaw