Main Street Registry

Gazebo Inn

Myrtle Beach, SC · Hotels (except Casino Hotels) and Motels · NAICS 721110

Gazebo Inn, located in Myrtle Beach, South Carolina, operates in the hotels (except casino hotels) and motels industry. The business financed real estate or equipment through an SBA 504 loan of $2,374,000, approved on March 4, 2024, with First Port City Bank as the lending bank and Provident Business Financial Services, Inc. as the certified development company.

SBA 504 loan, approved Mar 4, 2024

$2,374,000 SBA portionCDC: Provident Business Financial Services, Inc.25 years termStatus not reported (SBA exemption)Loan details
SBA (CDC) portion
$2,374,000
Bank portion
$2,321,100
Estimated project size
$5,216,778 (estimated)
Estimated owner equity
$521,678 (estimated, about 10% of the project)
Bank lender
First Port City Bank, Bainbridge, GA
CDC
Provident Business Financial Services, Inc.
Processing method
504 Refinancing: refinances existing business debt
Term
25 years (300 months)
Estimated maturity
March 4, 2049 (estimated, approval date plus term)
First disbursement
May 15, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
14
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Project location
Horry County, SC
SBA district office
South Carolina District Office
Congressional district
SC-7
Collateral
Yes

Estimated share of project by source

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

  • Larger than 45% 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 South Carolina: $2,088,205.

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 South Carolina