Main Street Registry

Comfort Inn Alton

Alton, IL · Hotels (except Casino Hotels) and Motels · NAICS 721110

Comfort Inn Alton is a hotel and motel business in Alton, Illinois, in the Hotels (except Casino Hotels) and Motels industry. The business financed real estate or equipment through an SBA 504 loan with a $1,451,000 SBA portion, approved on January 18, 2024, through The First National Bank of Waterloo with SomerCor 504, Inc. as the certified development company.

SBA 504 loan, approved Jan 18, 2024

$1,451,000 SBA portionCDC: SomerCor 504, Inc.25 years termStatus not reported (SBA exemption)Loan details
SBA (CDC) portion
$1,451,000
Bank portion
$1,417,000
Estimated project size
$3,186,667 (estimated)
Estimated owner equity
$318,667 (estimated, about 10% of the project)
Bank lender
The First National Bank of Waterloo, Waterloo, IL
CDC
SomerCor 504, Inc.
Processing method
504 Refinancing: refinances existing business debt
Term
25 years (300 months)
Estimated maturity
January 18, 2049 (estimated, approval date plus term)
First disbursement
Apr 17, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
10
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Project location
Madison County, IL
SBA district office
Illinois District Office
Congressional district
IL-12
Collateral
Yes

Estimated share of project by source

Bank 44% SBA (CDC) 46% Owner 10%

  • Larger than 18% 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 Illinois: $2,310,827.

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 Illinois