Main Street Registry

Ocean Sands Beach Inn

Saint Augustine, FL · Hotels (except Casino Hotels) and Motels · NAICS 721110

Ocean Sands Beach Inn is a hotel and motel business in Saint Augustine, Florida, classified under NAICS 721110 for hotels (except casino hotels) and motels. The business financed real estate or equipment through an SBA 504 loan of $1,931,000, with Celtic Bank Corporation as the lending bank and Florida First Capital Finance Corporation, Inc. as the certified development company, approved on August 20, 2024.

SBA 504 loan, approved Aug 20, 2024

$1,931,000 SBA portionCDC: Florida First Capital Finance Corporation, Inc.25 years termStatus not reported (SBA exemption)Loan details
SBA (CDC) portion
$1,931,000
Bank portion
$1,886,000
Estimated project size
$4,241,111 (estimated)
Estimated owner equity
$424,111 (estimated, about 10% of the project)
Bank lender
Celtic Bank Corporation, Salt Lake City, UT
CDC
Florida First Capital Finance Corporation, Inc.
Processing method
504 Refinancing: refinances existing business debt
Term
25 years (300 months)
Estimated maturity
August 20, 2049 (estimated, approval date plus term)
First disbursement
Dec 11, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
1
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Project location
Saint Johns County, FL
SBA district office
North Florida District Office
Congressional district
FL-4
Collateral
Yes

Estimated share of project by source

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

  • Larger than 31% 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 Florida: $2,058,496.

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.

Is this your company? Claim or correct this listing. See Corrections.

Same industry in Florida