Country Inn and Suites and Dakota Inn Hospitality Minot
Country Inn and Suites and Dakota Inn Hospitality in Minot, ND operates in the hotels and motels industry (NAICS 721110) and is listed as a Country Inn and Suites by Radisson franchise. The company was financed with an SBA 7(a) loan for a change of ownership, with two loans of $539,000 and $1.83 million approved on February 16, 2024 by First Western SBLC, LLC d/b/a Peachtree Group.
SBA 7(a) loan, change of ownership, approved Feb 16, 2024
$1,830,000 approvedLender: First Western SBLC, LLC d/b/a Peachtree Group25 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $1,830,000
- SBA-guaranteed amount
- $1,372,500 (75% of the approval)
- Lender
- First Western SBLC, LLC d/b/a Peachtree Group, Dallas, TX
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 9.75%, variable
- Term
- 25 years (300 months)
- Estimated maturity
- February 16, 2049 (estimated, approval date plus term)
- Estimated monthly payment
- $16,308 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Feb 28, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 12
- Business type
- Corporation
- NAICS
- 721110, Hotels (except Casino Hotels) and Motels
- Franchise
- Country Inn and Suites by Radisson
- Project location
- Ward County, ND
- SBA district office
- North Dakota District Office
- Congressional district
- ND-00
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 20% 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 North Dakota: $1,899,142.
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.
SBA 7(a) loan, change of ownership, approved Feb 16, 2024
$539,000 approvedLender: First Western SBLC, LLC d/b/a Peachtree Group25 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $539,000
- SBA-guaranteed amount
- $404,250 (75% of the approval)
- Lender
- First Western SBLC, LLC d/b/a Peachtree Group, Dallas, TX
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10.25%, variable
- Term
- 25 years (300 months)
- Estimated maturity
- February 16, 2049 (estimated, approval date plus term)
- Estimated monthly payment
- $4,993 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- May 31, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 12
- Business type
- Corporation
- NAICS
- 721110, Hotels (except Casino Hotels) and Motels
- Franchise
- Country Inn and Suites by Radisson
- Project location
- Ward County, ND
- SBA district office
- North Dakota District Office
- Congressional district
- ND-00
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Hotels (except Casino Hotels) and Motels: $3,241,374.
- Average acquisition loan in North Dakota: $1,899,142.
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.
Is this your company? Claim or correct this listing. See Corrections.
Same industry in North Dakota
- The Watford, Watford City
- RRR Hospitality LLC, Minot
- Mahadev Bismarck Hospitality LLC, Bismarck
- Sai Bismarck Lodging LLC, Bismarck
- Saroj Hospitality LLC, Jamestown
- Quilt Inn, Kenmare
- Baymont By Wyndham Jamestown, Jamestown