Specific loans for the purchase, construction,
renovation, expansion, conversion or re-flagging of existing
flagged and independent properties.
Borrower Benefits
•
Long repayment terms,
reducing monthly payments.
•
Frees up cash flow to
expand your business.
•
Low down payment of as
little as 15% for acquisitions (100% financing available
for refinancing or renovations with sufficient equity
in business).
•
SBA 7a, SBA 504 and USDA
B&I loans available.
Loan Amounts
•
$100,000 to $5.0 million
Use of Proceeds
•
Renovation of existing
flagged and independent properties.
•
Acquisition of existing
flagged and independent properties (in turnaround financing
situations, buyer must show direct turnaround hotel/motel
experience and a feasibility study may be required).
•
Refinancing of existing
debt.
•
Conversion from independent
to new flagged property or upgrade to new flag.
•
Ground-up construction
of flagged properties supported by a current feasibility
study.
Terms
•
Business owners must
have direct or highly related industry experience coupled
with acceptable personal credit histories.
•
Rates are based on a
spread over the Prime Lending Rate. Rates vary depending
on the specific strengths of the transaction.
•
If property is operated
as a franchise the term of the franchise agreement must
equal or exceed the term of the loan (can include options).
•
All customary fees apply.
•
All 7a loans are fully
amortized and are assumable.
Pre-Screen
•
Pre-screen service available
within 24 hours with no charge or obligation by providing
limited information. Contact me for more information.
