Hotels and Motels acquisitions in South Carolina: SBA loan data
Since FY2018, SBA lenders have approved 83 7(a) loans to buy an existing business classified as Hotels and Motels in South Carolina, totaling $217M. The median loan was $2,352,800. That is 12.2% of the 683 acquisition loans in South Carolina.
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How this compares
The median Hotels and Motels loan in South Carolina is 212% higher than the $755,000 median for all South Carolina acquisitions, and 10% lower than the $2,621,250 median for Hotels and Motels acquisitions nationwide (2,310 loans).
On losses, 4.9% of seasoned Hotels and Motels loans in South Carolina were charged off, 9% higher than the 4.5% rate for all South Carolina acquisitions, and 510% higher than the 0.8% rate for the industry nationally.
Hotels and Motels acquisition loans in South Carolina by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 6 | $19.5M | $3,246,500 | |
| FY2019 | 8 | $18.4M | $2,163,750 | |
| FY2020 | 12 | $22.2M | $1,638,500 | |
| FY2021 | 15 | $35.9M | $2,352,800 | |
| FY2022 | 4 | $6.4M | $1,544,000 | |
| FY2023 | 8 | $23M | $2,832,000 | |
| FY2024 | 9 | $30.3M | $2,735,000 | |
| FY2025 | 15 | $48.3M | $3,500,000 | |
| FY2026 | 6 | $13.3M | $1,687,500 |
How often do these acquisition loans fail?
Of the 41 Hotels and Motels in South Carolina acquisition loans approved from FY2018 to FY2021 (the seasoned cohort, every loan at least about five years old), 2 have been charged off by the SBA, a rate of 4.9% by loan count and 2.9% by dollars. 19 have already been paid in full.
For comparison, the charge-off rate across all SBA 7(a) acquisition loans in the same cohort is 3.5%, so Hotels and Motels in South Carolina is 39% higher than the acquisition-loan average. Non-acquisition 7(a) loans (every other stated purpose) approved FY2018 to FY2021 charged off at 6.2%.
"Charged off" is the SBA's final loss action on a defaulted loan after collection efforts. It lags default by a year or more, which is why only older cohorts are measured. It is not the same as a delinquency rate, and loans still outstanding can still fail. See charge-off in the glossary.
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Top lenders
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | GBank | 41 | 49.4% | $117M | |
| 2 | The Huntington National Bank | 7 | 8.4% | $16.7M | |
| 3 | Countybank | 4 | 4.8% | $11.1M | |
| 4 | PromiseOne Bank | 3 | 3.6% | $8.1M | |
| 5 | American Pride Bank | 3 | 3.6% | $7.7M |
Top franchise brands
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Quality Inn | 17 | 20.5% | $50.3M | |
| 2 | Baymont | 9 | 10.8% | $16.6M | |
| 3 | Sleep Inn | 7 | 8.4% | $23.5M | |
| 4 | Red Roof Inn | 7 | 8.4% | $15.2M | |
| 5 | Days Inn | 5 | 6.0% | $10.8M |
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Questions buyers ask
How much do SBA loans for Hotels and Motels acquisitions in South Carolina run?
The median SBA 7(a) loan was $2,352,800 across 83 loans (FY2018 to FY2026), with the middle half between $1,577,150 and $3,589,700. The loan excludes the buyer's equity and any seller note and may include working capital, so the price is usually higher than the loan.
Which banks finance Hotels and Motels acquisitions in South Carolina?
GBank (41), The Huntington National Bank (7), Countybank (4), PromiseOne Bank (3), American Pride Bank (3). Some lenders repeatedly finance this industry in this state; the counts above show which.
How often do Hotels and Motels acquisition loans fail in South Carolina?
4.9% of 41 seasoned loans (FY2018 to FY2021) were charged off, against 3.5% for all SBA acquisition loans. With a sample this size, treat the figure as a direction, not a precise rate.
Are franchised businesses part of Hotels and Motels acquisitions in South Carolina?
74 of the 83 loans (89%) involved a franchise brand, most often Quality Inn (17).
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Related
- All South Carolina acquisitions
- Hotels and Motels nationally
- Hotels and Motels in Texas
- Hotels and Motels in Georgia
- Hotels and Motels in California
- Hotels and Motels in North Carolina
- Hotels and Motels in Ohio
- Hotels and Motels in Illinois
- Hotels and Motels in Florida
- Hotels and Motels in Indiana
- Full-Service Restaurants in South Carolina
- Insurance Agencies and Brokerages in South Carolina
- General Automotive Repair in South Carolina
- All Other Specialty Trade Contractors in South Carolina
- Limited-Service Restaurants in South Carolina
- Lessors of Miniwarehouses and Self-Storage Units in South Carolina
- Plumbing, Heating, and Air-Conditioning Contractors in South Carolina
- Child Care Services in South Carolina
Small samples move a lot: each loan in this combination is 1% of the count. Industry is the NAICS code the lender recorded. See the methodology.