Main Street Registry

Towneplace Suites of Odessa

Odessa, TX · Hotels (except Casino Hotels) and Motels · NAICS 721110

Towneplace Suites of Odessa is a hotel business located in Odessa, Texas, classified under the NAICS industry for hotels (except casino hotels) and motels. The company was financed with an SBA 7(a) loan for a change of ownership, with a loan amount of $5 million approved by GBank on October 11, 2024. The business is a TownePlace Suites by Marriott franchise and reported 29 jobs on the loan application.

SBA 7(a) loan, change of ownership, approved Oct 11, 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%, variable
Term
25 years (300 months)
Estimated maturity
October 11, 2049 (estimated, approval date plus term)
Estimated monthly payment
$41,960 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Oct 23, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
29
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Franchise
TownePlace Suites by Marriott
Project location
Ector County, TX
SBA district office
Lubbock District Office
Congressional district
TX-11
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 Texas: $1,944,682.

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 Texas