Main Street Registry

Best Western Alexandria

Alexandria, MN · Hotels (except Casino Hotels) and Motels · NAICS 721110

Best Western Alexandria is a hotel and motel business in Alexandria, Minnesota, in the NAICS category for hotels (except casino hotels) and motels. The business was financed with an SBA 504 loan, under which it financed real estate or equipment through an SBA 504 loan of $1,369,000 approved on November 5, 2024, through Old National Bank and Midwest Business Finance Corporation.

SBA 504 loan, approved Nov 5, 2024

$1,369,000 SBA portionCDC: Midwest Business Finance Corporation25 years termStatus not reported (SBA exemption)Loan details
SBA (CDC) portion
$1,369,000
Bank portion
$1,905,000
Estimated project size
$3,637,778 (estimated)
Estimated owner equity
$363,778 (estimated, about 10% of the project)
Bank lender
Old National Bank, Evansville, IN
CDC
Midwest Business Finance Corporation
Processing method
Accredited Lenders Program: CDC with an expedited SBA review
Term
25 years (300 months)
Estimated maturity
November 5, 2049 (estimated, approval date plus term)
First disbursement
Sep 17, 2025
Loan status
Status not reported (SBA exemption)
Jobs supported
4
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Project location
Douglas County, MN
SBA district office
Minnesota District Office
Congressional district
MN-7
Collateral
Yes

Estimated share of project by source

Bank 52% SBA (CDC) 38% Owner 10%

  • Larger than 16% 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 Minnesota: $2,136,981.

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 Minnesota