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Red Roof Inn Huntington

Huntington, WV · Hotels (except Casino Hotels) and Motels · NAICS 721110

Red Roof Inn Huntington is a hotel and motel business in Huntington, West Virginia, classified under NAICS code 721110 (Hotels, except casino hotels, and motels). The business was financed with an SBA 7(a) loan for a change of ownership, approved on July 30, 2024, in the amount of $2,492,000 through First Western SBLC, LLC d/b/a Peachtree Group. The business is a Red Roof Inn franchise and reports 9 jobs.

SBA 7(a) loan, change of ownership, approved Jul 30, 2024

$2,492,000 approvedLender: First Western SBLC, LLC d/b/a Peachtree Group25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$2,492,000
SBA-guaranteed amount
$1,869,000 (75% of the approval)
Lender
First Western SBLC, LLC d/b/a Peachtree Group, Dallas, TX
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
9.5%, variable
Term
25 years (300 months)
Estimated maturity
July 30, 2049 (estimated, approval date plus term)
Estimated monthly payment
$21,773 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Aug 29, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
9
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Franchise
Red Roof Inn
Project location
Cabell County, WV
SBA district office
West Virginia District Office
Congressional district
WV-03
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 35% 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 West Virginia: $2,753,191.

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 West Virginia