Bloomington Empire Hotel LLC
Bloomington Empire Hotel LLC is a hotel and motel business located in Bloomington, Minnesota, classified under NAICS code 721110 (Hotels, except Casino Hotels and Motels).
SBA 504 loan, approved Apr 2, 2025
$4,089,000 SBA portionCDC: Central Minnesota Development Company25 years termStatus not reported (SBA exemption)Loan details
- SBA (CDC) portion
- $4,089,000
- Bank portion
- $4,750,000
- Estimated project size
- $9,821,111 (estimated)
- Estimated owner equity
- $982,111 (estimated, about 10% of the project)
- Bank lender
- CorTrust Bank National Association, Mitchell, SD
- Processing method
- 504 Refinancing: refinances existing business debt
- Term
- 25 years (300 months)
- Estimated maturity
- April 2, 2050 (estimated, approval date plus term)
- First disbursement
- Sep 17, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 30
- Business type
- Corporation
- NAICS
- 721110, Hotels (except Casino Hotels) and Motels
- Franchise
- Holiday Inn Express/Holiday Inn Express & Suites
- Project location
- Hennepin County, MN
- SBA district office
- Minnesota District Office
- Congressional district
- MN-3
- Collateral
- Yes
Estimated share of project by source
Bank 48% SBA (CDC) 42% Owner 10%
- Larger than 77% 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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