Main Street Registry

Virk Hospitality Portland North, LLC

Portland, OR · Hotels (except Casino Hotels) and Motels · NAICS 721110

Virk Hospitality Portland North, LLC is a hotel and motel business in Portland, Oregon, classified under the industry Hotels (except Casino Hotels) and Motels. The company financed real estate or equipment through an SBA 504 loan of $2,969,000, approved on November 21, 2024, with Columbia Community CU as the lending bank and The Mortgage Capital Development Corporation as the certified development company.

SBA 504 loan, approved Nov 21, 2024

$2,969,000 SBA portionCDC: The Mortgage Capital Development Corporation25 years termStatus not reported (SBA exemption)Loan details
SBA (CDC) portion
$2,969,000
Bank portion
$4,890,000
Estimated project size
$8,732,222 (estimated)
Estimated owner equity
$873,222 (estimated, about 10% of the project)
Bank lender
Columbia Community CU, Vancouver, WA
CDC
The Mortgage Capital Development Corporation
Processing method
Accredited Lenders Program: CDC with an expedited SBA review
Term
25 years (300 months)
Estimated maturity
November 21, 2049 (estimated, approval date plus term)
First disbursement
Apr 16, 2025
Loan status
Status not reported (SBA exemption)
Jobs supported
12
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Franchise
Fairfield by Marriott/Fairfield Inn & Suites by Marriott/Fairfield Inn by Marriott/Fairfield by Marriott Inn & Suites
Project location
Multnomah County, OR
SBA district office
Portland District Office
Congressional district
OR-3
Collateral
Yes

Estimated share of project by source

Bank 56% SBA (CDC) 34% Owner 10%

  • Larger than 59% 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 Oregon: $1,931,136.

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 Oregon