Main Street Registry

American Motel

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

American Motel, located in Waseca, Minnesota, operates in the hotels and motels industry (NAICS 721110). The business was financed with an SBA 7(a) loan for a change of ownership of $1 million, approved on December 18, 2024, by lender First Western SBLC, LLC d/b/a Peachtree Group.

SBA 7(a) loan, change of ownership, approved Dec 18, 2024

$1,000,000 approvedLender: First Western SBLC, LLC d/b/a Peachtree Group25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$1,000,000
SBA-guaranteed amount
$750,000 (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
8.75%, variable
Term
25 years (300 months)
Estimated maturity
December 18, 2049 (estimated, approval date plus term)
Estimated monthly payment
$8,221 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Dec 31, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
4
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Project location
Waseca County, MN
SBA district office
Minnesota District Office
Congressional district
MN-01
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 5% 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