Main Street Registry

Super 8 Motel

Midlothian, VA · Hotels (except Casino Hotels) and Motels · NAICS 721110

Super 8 Motel in Midlothian, VA operates in the hotels and motels industry (NAICS 721110) and is a Super 8 by Wyndham franchise. The business was financed through an SBA 504 loan that financed real estate or equipment, with an SBA portion of $1,281,000, approved on July 25, 2024 through lender East West Bank and certified development company Business Finance Group, Inc., and the loan reported 4 jobs.

SBA 504 loan, approved Jul 25, 2024

SBA (CDC) portion
$1,281,000
Bank portion
$1,250,000
Estimated project size
$2,812,222 (estimated)
Estimated owner equity
$281,222 (estimated, about 10% of the project)
Bank lender
East West Bank, Pasadena, CA
CDC
Business Finance Group, Inc.
Processing method
504 Refinancing: refinances existing business debt
Term
25 years (300 months)
Estimated maturity
July 25, 2049 (estimated, approval date plus term)
First disbursement
Oct 16, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
4
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Franchise
Super 8 by Wyndhan / Super 8
Project location
Chesterfield County, VA
SBA district office
Richmond District Office
Congressional district
VA-4
Collateral
Yes

Estimated share of project by source

Bank 44% SBA (CDC) 46% Owner 10%

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 Virginia