Quilt Inn
Quilt Inn is located in Kenmare, ND, and the SBA lists its industry as Hotels (except Casino Hotels) and Motels. It was approved for an SBA 7(a) loan of $937,000 for a change of ownership on February 27, 2024.
SBA 7(a) loan, change of ownership, approved Feb 27, 2024
- Gross approval
- $937,000
- SBA-guaranteed amount
- $702,750 (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
- 9.5%, variable
- Term
- 25 years (300 months)
- Estimated maturity
- February 27, 2049 (estimated, approval date plus term)
- Estimated monthly payment
- $8,187 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Mar 20, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 18
- Business type
- Corporation
- NAICS
- 721110, Hotels (except Casino Hotels) and Motels
- 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 4% 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.
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Same industry in North Dakota
- The Watford, Watford City
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- Sai Bismarck Lodging LLC, Bismarck
- Saroj Hospitality LLC, Jamestown
- Country Inn and Suites and Dakota Inn Hospitality Minot, Minot
- Baymont By Wyndham Jamestown, Jamestown