Main Street Registry

Sonesta Select at RTP Durham

Durham, NC · Hotels (except Casino Hotels) and Motels · NAICS 721110

Sonesta Select at RTP Durham is located in Durham, NC, and the SBA lists its industry as Hotels (except Casino Hotels) and Motels. It was approved for an SBA 7(a) loan of $5,000,000 for a change of ownership on April 1, 2024.

SBA 7(a) loan, change of ownership, approved Apr 1, 2024

Gross approval
$5,000,000
SBA-guaranteed amount
$3,750,000 (75% of the approval)
Lender
GBank, Las Vegas, NV
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
9.5%, variable
Term
25 years (300 months)
Estimated maturity
April 1, 2049 (estimated, approval date plus term)
Estimated monthly payment
$43,685 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Apr 3, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
4
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Franchise
Sonesta Hotels and Resorts
Project location
Durham County, NC
SBA district office
North Carolina District Office
Congressional district
NC-02
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
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.

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Same industry in North Carolina