SBA Loans for Hotels (except Casino Hotels) and Motels in Minnesota: Top Lenders
NAICS 721NAICS 721 covers hotels (except casino hotels) and motels businesses in Minnesota. Based on historical SBA 7(a) lending data.
Total Approvals
18
in Minnesota
Median Loan Size
$350,000
per approval
Recent Activity
0
last 90 days through Jul 2024
NAICS 721 covers hotels (except casino hotels) and motels businesses. This is a smaller category in SBA 7(a) lending with 18 approvals on record and a median loan size of $350,000.
Key trends & insights
- Gbank leads this industry with 3 approvals (17% market share) and a median loan of $4,073,000.
- SBA data for this industry goes through 2024-07-18 — the SBA releases lending data on a quarterly lag, so recent activity may not yet be reflected.
Most active SBA lenders for Hotels (except Casino Hotels) and Motels in Minnesota
| # | Lender | Approvals | Median Size |
|---|---|---|---|
| 1 | 3 | $4,073,000 | |
| 2 | 2 | $105,000 | |
| 3 | 1 | $315,000 | |
| 4 | 1 | $20,000 | |
| 5 | 1 | $50,000 | |
| 6 | 1 | $1,000,000 | |
| 7 | 1 | $38,300 | |
| 8 | 1 | $350,000 | |
| 9 | 1 | $2,878,000 | |
| 10 | 1 | $451,500 | |
| 11 | 1 | $2,700,000 | |
| 12 | 1 | $350,000 | |
| 13 | 1 | $161,000 | |
| 14 | 1 | $37,000 | |
| 15 | 1 | $1,362,000 |
Recent SBA 7(a) approvals for Hotels (except Casino Hotels) and Motels in Minnesota
| Month | Lender | Borrower | Location | Amount |
|---|---|---|---|---|
| 2024-07 | BankVista | Arm*****Inc | BAUDETTE, MN | $160,000 |
| 2024-05 | MY CU | KAS*****LLC | STARBUCK, MN | $50,000 |
| 2024-02 | GBank | Pil*****LLC | EAGAN, MN | $4,134,000 |
| 2023-08 | Security Bank USA | Gra*****LLC | Gonvick, MN | $941,100 |
| 2023-07 | Readycap Lending, LLC | Te****Inc | Jackson, MN | $760,000 |
| 2023-05 | Hiawatha National Bank | Kol*****LLC | ANNANDALE, MN | $1,000,000 |
| 2022-08 | GBank | Ste*****LLC | Hinckley, MN | $1,052,200 |
| 2022-08 | East West Bank | War*****Inc | WARROAD, MN | $2,700,000 |
| 2022-08 | GBank | Dul*****LLC | Hermantown, MN | $4,073,000 |
| 2022-04 | Security Bank USA | Sne*****nc. | CASS LAKE, MN | $20,000 |
| 2021-08 | Old National Bank | Bir*****LLC | Hackensack, MN | $38,300 |
| 2021-08 | Wadena State Bank | The*****ark | BATTLE LAKE, MN | $161,000 |
| 2021-08 | Citizens State Bank | Liv*****LLC | LANESBORO, MN | $451,500 |
| 2021-06 | Northeast Entrepreneur Fund, Inc. | End*****LLC | Duluth, MN | $350,000 |
| 2021-05 | Wallis Bank | Kri*****nc. | Thief River Falls, MN | $1,362,000 |
| 2021-04 | LendingClub Bank, National Association | DUL*****LLC | DULUTH, MN | $2,878,000 |
| 2021-02 | Pioneer Bank | Har*****LLC | Minneapolis, MN | $37,000 |
| 2021-01 | The Citizens National Bank of Park Rapids | JS *****LLC | PARK RAPIDS, MN | $315,000 |
| 2021-01 | Platinum Bank | 189*****LLC | DEERWOOD, MN | $350,000 |
| 2019-11 | BankVista | Gri*****LLC | BUYCK, MN | $50,000 |
Source: Historical SBA 7(a) lending records. Borrower names partially masked for privacy.
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