Main Street Registry

Country Inn Altoona

Altoona, PA · Hotels (except Casino Hotels) and Motels · NAICS 721110

Country Inn Altoona is a hotel business in Altoona, Pennsylvania, classified under the industry Hotels (except Casino Hotels) and Motels. It was financed with an SBA 7(a) loan for a change of ownership totaling $4,072,000, approved on October 22, 2024, by Centerstone SBA Lending, Inc. The business is listed as a Country Inn and Suites by Radisson franchise and reported 133 jobs.

SBA 7(a) loan, change of ownership, approved Oct 22, 2024

$4,072,000 approvedLender: Centerstone SBA Lending, Inc.25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$4,072,000
SBA-guaranteed amount
$3,054,000 (75% of the approval)
Lender
Centerstone SBA Lending, Inc., Los Angeles, CA
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
9.25%, variable
Term
25 years (300 months)
Estimated maturity
October 22, 2049 (estimated, approval date plus term)
Estimated monthly payment
$34,872 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Nov 19, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
133
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Franchise
Country Inn and Suites by Radisson
Project location
Blair County, PA
SBA district office
Pittsburgh District Office
Congressional district
PA-13
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 63% 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 Pennsylvania: $1,636,965.

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 Pennsylvania