Main Street Registry

Motel 6 - Drums, PA

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

Motel 6 - Drums, PA is a hotel and motel business located in Drums, Pennsylvania, operating under the Motel 6 franchise. The company was financed with an SBA 7(a) loan for a change of ownership totaling $2,277,000, approved through GBank on April 25, 2024, with 6 jobs reported.

SBA 7(a) loan, change of ownership, approved Apr 25, 2024

$2,277,000 approvedLender: GBank25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$2,277,000
SBA-guaranteed amount
$1,707,750 (75% of the approval)
Lender
GBank, Las Vegas, NV
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
9.75%, variable
Term
25 years (300 months)
Estimated maturity
April 25, 2049 (estimated, approval date plus term)
Estimated monthly payment
$20,291 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Apr 30, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
6
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Franchise
Motel 6
Project location
Luzerne County, PA
SBA district office
Philadelphia District Office
Congressional district
PA-08
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 30% 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