Main Street Registry

Star Hotels of Gastonia Inc

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

Star Hotels of Gastonia Inc, located in Gastonia, North Carolina, operates in the hotels and motels industry (NAICS 721110). The company was financed with an SBA 7(a) loan for a change of ownership, approved on May 29, 2024 for $5 million through GBank.

SBA 7(a) loan, change of ownership, approved May 29, 2024

$5,000,000 approvedLender: GBank25 years termStatus not reported (SBA exemption)Loan details
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
9.25%, variable
Term
25 years (300 months)
Estimated maturity
May 29, 2049 (estimated, approval date plus term)
Estimated monthly payment
$42,819 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Jun 7, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
1
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Franchise
Comfort Suites by Choice Hotels
Project location
Gaston County, NC
SBA district office
North Carolina District Office
Congressional district
NC-05
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 76% 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 North Carolina: $1,952,444.

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