4.668 504 20 year term, May 2017
4.514 504 10 year term, May 2017

 

Super 8

April 2012

 

Byung Park and Hyon Lee have been partners in the motel industry for the past couple of years. In 2010, Hyon purchased the Windsor Place Inn in Prairie du Chien, WI from Byung. With extensive motel experience and the familiarity of the Prairie du Chien market, the partners were interested in purchasing the Super 8 motel which is located directly next to their current motel property.

 

In November 2011, the owners worked with WBD to obtain an SBA 504 loan, along with financing from Peoples State Bank, to purchase Super 8 in Prairie du Chien, WI. The motel is a two story property equipped with 30 guest rooms. Super 8 offers complimentary breakfast and wireless internet to their quests and is on one of the two main business routes through the City of Prairie du Chien. The availability of the SBA program allowed the owners to purchase the motel, which retained 8 employee positions, supporting economic development in Prairie du Chien, WI.

 

 

Funded

April 2012

 

Owner(s)

Hyon Lee & Byung Park

 

Bank & Lender

Peoples State Bank, Michael Higgins

 

Financing

Purchase of real estate and equipment

 

Jobs Created & Retained

Retained 8 jobs

 

Public Policy Goals/Local Development Goals

Rural and Community Development (pop. of Prairie du Chien is 5,911)

 

Project Amount

$1,060,000

 

WBD Contact

Diane Byler

 

Diane's Personal Page

 

Email Diane

P: (608) 316-7132

Byung Park and Hyon Lee have been partners in the motel industry for the past couple of years. In 2010, Hyon purchased the Windsor Place Inn in Prairie du Chien, WI from Byung. With extensive motel experience and the familiarity of the Prairie du Chien market, the partners were interested in purchasing the Super 8 motel which is located directly next to their current motel property.

 

In November 2011, the owners worked with WBD to obtain an SBA 504 loan, along with financing from Peoples State Bank, to purchase Super 8 in Prairie du Chien, WI. The motel is a two story property equipped with 30 guest rooms. Super 8 offers complimentary breakfast and wireless internet to their quests and is on one of the two main business routes through the City of Prairie du Chien. The availability of the SBA program allowed the owners to purchase the motel, which retained 8 employee positions, supporting economic development in Prairie du Chien, WI.