Main Street Registry

Quality Inn Walker

Walker, MI · Hotels (except Casino Hotels) and Motels · NAICS 721110

Quality Inn Walker is located in Walker, MI, and the SBA lists its industry as Hotels (except Casino Hotels) and Motels. It was approved for an SBA 7(a) loan of $2,556,000 for a change of ownership on January 5, 2024.

SBA 7(a) loan, change of ownership, approved Jan 5, 2024

Gross approval
$2,556,000
SBA-guaranteed amount
$1,917,000 (75% of the approval)
Lender
GBank, Las Vegas, NV
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
7.25%, fixed
Term
25 years (300 months)
Estimated maturity
January 5, 2049 (estimated, approval date plus term)
Estimated monthly payment
$18,475 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Jan 8, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
11
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Franchise
Quality Inn, Quality Inn & Suites,
Project location
Kent County, MI
SBA district office
Michigan District Office
Congressional district
MI-02
Collateral
Yes
Guaranteed portion sold on secondary market
Not reported as sold
Revolving line of credit
No (term loan)

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 Michigan