WEDA Success Stories

 

WEDA Success Stories

Ranchester Western Motel
Ranchester Western Motel Photo

350 US-14
Ranchester, WY 82839
US
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Category:  2015 Success Stories


Tom and Lynda Jolly have owned and operated the Ranchester Western Motel since 2010. The motel features 17 units, guest laundry facilities, and lobby breakfast area. The property is conveniently located off U.S. Interstate 90 on U.S. Highway 14 (Dayton Street). This main street through downtown Ranchester is highly traveled by local residents, tourists and hunters traveling into the Big Horn Mountains, and energy industry personnel working in pipeline construction and the nearby coal mines.

When the Jollys purchased the property, financing interest rates were high. Now, with funding through the SBA 504 Loan Program administered by WIDC-Frontier CDC, in participation with First Interstate Bank, the Jollys have restructured the property financing. Their 504 Loan provides longterm, fixed rate financing that reduces debt service and increases operating funds.




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