Main Street Registry

Fairfield Inn & Suites Bay City

Bay City, TX · Hotels (except Casino Hotels) and Motels · NAICS 721110

Fairfield Inn & Suites Bay City is a hotel and motel business in Bay City, Texas, classified under NAICS code 721110 (Hotels, except Casino Hotels and Motels). The business financed real estate or equipment through an SBA 504 loan of $1,738,000, approved on August 28, 2024, with East West Bank as the lending bank and Capital Certified Development Corporation as the certified development company.

SBA 504 loan, approved Aug 28, 2024

$1,738,000 SBA portionCDC: Capital Certified Development Corporation25 years termStatus not reported (SBA exemption)Loan details
SBA (CDC) portion
$1,738,000
Bank portion
$2,850,000
Estimated project size
$5,097,778 (estimated)
Estimated owner equity
$509,778 (estimated, about 10% of the project)
Bank lender
East West Bank, Pasadena, CA
CDC
Capital Certified Development Corporation
Processing method
Accredited Lenders Program: CDC with an expedited SBA review
Term
25 years (300 months)
Estimated maturity
August 28, 2049 (estimated, approval date plus term)
First disbursement
Dec 11, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
16
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Franchise
Fairfield by Marriott/Fairfield Inn & Suites by Marriott/Fairfield Inn by Marriott/Fairfield by Marriott Inn & Suites
Project location
Matagorda County, TX
SBA district office
Houston District Office
Congressional district
TX-14
Collateral
Yes

Estimated share of project by source

Bank 56% SBA (CDC) 34% Owner 10%

  • Larger than 26% 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 Texas: $2,316,979.

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 Texas