Main Street Registry

Quality Inn by Choice Hotels

Norman, OK · Hotels (except Casino Hotels) and Motels · NAICS 721110

Quality Inn by Choice Hotels is a hotel and motel business in Norman, Oklahoma, classified under the industry Hotels (except Casino Hotels) and Motels. The company financed real estate or equipment through an SBA 504 loan of $1,011,000, approved on February 6, 2024, with First National Bank of Oklahoma as the lender and Metro Area Development Corporation as the certified development company.

SBA 504 loan, approved Feb 6, 2024

$1,011,000 SBA portionCDC: Metro Area Development Corporation25 years termStatus not reported (SBA exemption)Loan details
SBA (CDC) portion
$1,011,000
Bank portion
$1,408,525
Estimated project size
$2,688,361 (estimated)
Estimated owner equity
$268,836 (estimated, about 10% of the project)
Bank lender
First National Bank of Oklahoma, Oklahoma City, OK
CDC
Metro Area Development Corporation
Processing method
504 Basic: standard SBA processing through a CDC
Term
25 years (300 months)
Estimated maturity
February 6, 2049 (estimated, approval date plus term)
First disbursement
Oct 16, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
5
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Franchise
SureStay - SureStay Studio
Project location
Cleveland County, OK
SBA district office
Oklahoma District Office
Congressional district
OK-4
Collateral
Yes

Estimated share of project by source

Bank 52% SBA (CDC) 38% Owner 10%

  • Average expansion loan in Hotels (except Casino Hotels) and Motels: $2,843,226.
  • Average expansion loan in Oklahoma: $1,929,167.

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 Oklahoma