Super 8 Motel
Super 8 Motel is a hotel and motel business located in West Greenwich, Rhode Island, classified under the NAICS industry for hotels (except casino hotels) and motels. The company financed real estate or equipment through an SBA 504 loan with an SBA portion of $1,223,000, approved on December 27, 2024, through Centreville Bank and the New England Certified Development Corporation.
SBA 504 loan, approved Dec 27, 2024
$1,223,000 SBA portionCDC: New England Certified Development Corporation25 years termStatus not reported (SBA exemption)Loan details
- SBA (CDC) portion
- $1,223,000
- Bank portion
- $2,250,000
- Estimated project size
- $3,858,889 (estimated)
- Estimated owner equity
- $385,889 (estimated, about 10% of the project)
- Bank lender
- Centreville Bank, West Warwick, RI
- Processing method
- 504 Refinancing: refinances existing business debt
- Term
- 25 years (300 months)
- Estimated maturity
- December 27, 2049 (estimated, approval date plus term)
- First disbursement
- Mar 11, 2026
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 7
- Business type
- Corporation
- NAICS
- 721110, Hotels (except Casino Hotels) and Motels
- Franchise
- Super 8 by Wyndhan / Super 8
- Project location
- Kent County, RI
- SBA district office
- Rhode Island District Office
- Congressional district
- RI-2
- Collateral
- Yes
Estimated share of project by source
Bank 58% SBA (CDC) 32% Owner 10%
- Larger than 9% of expansion loans in Hotels (except Casino Hotels) and Motels on this site.
- Average expansion loan in Hotels (except Casino Hotels) and Motels: $2,843,226.
- Average expansion loan in Rhode Island: $1,662,733.
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 Rhode Island
- Arham, LLC, Rumford
- Holiday Inn Express Coventry, Coventry
- Holiday Inn Express, Smithfield
- Hanuman Hospitality, Inc., Middletown