BLP Assists With Two Hotel Acquisitions in Eau Claire, WI


Business PAAAK LLC dba Super 8 & Quality Inn & Suites
Lending Partner Settlers bank
Owner Parthiv Patel, Ajay Patel and Ketankumar Patel
Location City of Eau Claire
Project Acquisition of hotels
Jobs Creating 2
Financing Source US Small Business Administration (SBA) 504 Program

Business Lending Partners successfully assisted an owners group with the purchase of two hotels, the Super 8 and Quality Inn & Suites in Eau Claire, Wisconsin. 

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Ed Kinney of Settlers bank had this to say about working with BLP on this project,"Settlers bank and our client had an outstanding experience working with Business Lending Partners.  The SBA 504 structure was a great fit for the purchase of two hotels in Eau Claire.  In particular the opportunity to lock in a 20-year fixed rate at today's rates will be of benefit over the long-term.  BLP staff was a pleasure to work with and we're looking forward to our next project with BLP!"

With ideal locations just off of I-94 and US Highway 37, the two hotels are conveniently located to accommodate business, university, and outdoor travelers. The excellent location was what drew the three owners of PAAAK LLC to this opportunity as they considered the convenience to outdoor activities of the Chippewa River, proximity to the Hutchinson Technology manufacturing plant and the University of Wisconsin–Eau Claire campus.

PAAAK LLC reached out to Business Lending Partners (BLP) to assist in finding an investment option that was right for their business venture. The BLP team worked with the hotel partners to determine financing that was right for their situation and found that the Small Business Administration 504 direct loan was the right for their specific needs. The owners appreciated the certainty of having a fixed interest rate for 20 years, the reduced downpayment of 10% and the excellent customer service provided by the BLP team.   To accomplish this project, BLP partnered with Ed Kinney  with Settlers Bank to provide the full financing package to accomplish this project.

For more information about this project and other resources available through the BLP team, contact Carolyn Engel at carolyn@blp504.org

 

SBA 504

July 2017

20-Year Fixed Rate:

4.766%

10-Year Fixed Rate:

4.497%

Historical Rate Graph