Main Street Registry

Hollywood Motel

Farmingdale, NY · Hotels (except Casino Hotels) and Motels · NAICS 721110

Hollywood Motel, located in Farmingdale, NY, operates in the hotels and motels industry (NAICS 721110). The business financed real estate or equipment through an SBA 504 loan of $2,506,000, approved on January 24, 2024, with Newtek Bank, National Association as the lender and Trenton Business Assistance Corporation as the certified development company.

SBA 504 loan, approved Jan 24, 2024

$2,506,000 SBA portionCDC: Trenton Business Assistance Corporation25 years termStatus not reported (SBA exemption)Loan details
SBA (CDC) portion
$2,506,000
Bank portion
$2,607,500
Estimated project size
$5,681,667 (estimated)
Estimated owner equity
$568,167 (estimated, about 10% of the project)
Bank lender
Newtek Bank, National Association, Miami, FL
CDC
Trenton Business Assistance Corporation
Processing method
504 Refinancing: refinances existing business debt
Term
25 years (300 months)
Estimated maturity
January 24, 2049 (estimated, approval date plus term)
First disbursement
Feb 12, 2025
Loan status
Status not reported (SBA exemption)
Jobs supported
8
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Project location
Suffolk County, NY
SBA district office
New York District Office
Congressional district
NY-2
Collateral
Yes

Estimated share of project by source

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

  • Larger than 49% 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 New York: $2,225,161.

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 New York