4.827 504 20 year term, March 2017
4.817 504 10 year term, March 2017

 

Sleep Inn & Suites - Madison

December 2010

 

Kevin Wilson has been working in the motel management business for over 25 years. In July of 2008, Kevin and a group of investors, Beltline Hotel Partner’s ll LLC, were formed to develop and build and operate a Sleep Inn and Suites located in Madison, WI. Before they could begin construction, Kevin and investors knew they would need financing to tackle the
project.

 

Through the financing provided by Monona State Bank and a SBA 504 loan through WBD, Kevin and investors were able to construct the new hotel. This project is the second 504 loan that Kevin has used with WBD. The Sleep Inn & Suites has 89 rooms and is centrally located with visibility from the 12/18 Beltline loop. The hotel prides itself on offering relaxing accommodations, great rates and first-class service. The long term fixed interest rate offered by the SBA 504 program allowed this business to create 30 jobs over the next two years, adding growth in the community.

 

 

Funded

December 2010

 

Owner(s)

Kevin Wilson & Minority Investors Group

 

Bank & Lender

Monona State Bank, Ted Gunderson

 

Financing

Purchase of real estate and construction of a new hotel

 

Jobs Created & Retained

Created 30 jobs over two years

 

Public Policy Goals/Local Development Goals

Increasing the tax base of the municipality via enhanced property values

 

Project Amount

$5,850,000

 

WBD Contact

Diane Byler

 

Diane's Personal Page

 

Email Diane

P: (608) 316-7132

Kevin Wilson has been working in the motel management business for over 25 years. In July of 2008, Kevin and a group of investors, Beltline Hotel Partner’s ll LLC, were formed to develop and build and operate a Sleep Inn and Suites located in Madison, WI. Before they could begin construction, Kevin and investors knew they would need financing to tackle the
project.

 

Through the financing provided by Monona State Bank and a SBA 504 loan through WBD, Kevin and investors were able to construct the new hotel. This project is the second 504 loan that Kevin has used with WBD. The Sleep Inn & Suites has 89 rooms and is centrally located with visibility from the 12/18 Beltline loop. The hotel prides itself on offering relaxing accommodations, great rates and first-class service. The long term fixed interest rate offered by the SBA 504 program allowed this business to create 30 jobs over the next two years, adding growth in the community.