Main Street Registry

Pilot Knob Hotel Group LLC

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

Pilot Knob Hotel Group LLC, located in Eagan, Minnesota, operates in the hotels (except casino hotels) and motels industry. It was financed with an SBA 7(a) loan for a change of ownership, approved on February 28, 2024, in the amount of $4,134,000 through lender GBank. The business operates under a franchise agreement with Best Western.

SBA 7(a) loan, change of ownership, approved Feb 28, 2024

$4,134,000 approvedLender: GBank25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$4,134,000
SBA-guaranteed amount
$3,100,500 (75% of the approval)
Lender
GBank, Las Vegas, NV
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
9.5%, variable
Term
25 years (300 months)
Estimated maturity
February 28, 2049 (estimated, approval date plus term)
Estimated monthly payment
$36,119 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Mar 6, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
2
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Franchise
Best Western - Best Western Plus - Best Western Premier- Executive Residency by Best Western- @Home by Best Western - GLo - Aiden - Membership Agreement
Project location
Dakota County, MN
SBA district office
Minnesota District Office
Congressional district
MN-02
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 64% 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 Minnesota: $1,482,119.

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