Main Street Registry

Comfort Inn & Suites

Lakewood, WA · Hotels (except Casino Hotels) and Motels · NAICS 721110

Comfort Inn & Suites, located in Lakewood, WA, operates in the hotels and motels industry (NAICS 721110). The business financed real estate or equipment through an SBA 504 loan with an SBA portion of $1,236,000, approved on January 5, 2024, with Happen Bank as the lending bank and Evergreen Business Capital as the certified development company.

SBA 504 loan, approved Jan 5, 2024

$1,236,000 SBA portionCDC: Evergreen Business Capital25 years termStatus not reported (SBA exemption)Loan details
SBA (CDC) portion
$1,236,000
Bank portion
$3,888,000
Estimated project size
$5,693,333 (estimated)
Estimated owner equity
$569,333 (estimated, about 10% of the project)
Bank lender
Happen Bank, Lehi, UT
CDC
Evergreen Business Capital
Processing method
504 Refinancing: refinances existing business debt
Term
25 years (300 months)
Estimated maturity
January 5, 2049 (estimated, approval date plus term)
First disbursement
May 15, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
10
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Project location
Pierce County, WA
SBA district office
Seattle District Office
Congressional district
WA-6
Collateral
Yes

Estimated share of project by source

Bank 68% SBA (CDC) 22% 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 Washington: $2,234,716.

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.

Is this your company? Claim or correct this listing. See Corrections.

Same industry in Washington