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Fairfield Inn & Suites

Emporia, VA · Hotels (except Casino Hotels) and Motels · NAICS 721110

Fairfield Inn & Suites in Emporia, Virginia operates in the hotel and motel industry, classified under NAICS code 721110. The business financed real estate or equipment through an SBA 504 loan of $2,702,000 approved with United Bank as the lending bank and Business Finance Group, Inc. as the certified development company, with a February 7, 2025 approval date.

SBA 504 loan, approved Feb 7, 2025

$2,702,000 SBA portionCDC: Business Finance Group, Inc.25 years termApproved, not yet fundedLoan details
SBA (CDC) portion
$2,702,000
Bank portion
$4,467,600
Estimated project size
$7,966,222 (estimated)
Estimated owner equity
$796,622 (estimated, about 10% of the project)
Bank lender
United Bank, Fairfax, VA
CDC
Business Finance Group, Inc.
Processing method
Accredited Lenders Program: CDC with an expedited SBA review
Term
25 years (300 months)
Estimated maturity
February 7, 2050 (estimated, approval date plus term)
Loan status
Approved, not yet funded
Jobs supported
20
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
Emporia County, VA
SBA district office
Richmond District Office
Congressional district
VA-4
Collateral
Yes

Estimated share of project by source

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

  • Larger than 54% 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