Hotel loans,lending May 30th, 2009 3:01 PM Start-up, Business Acquisition, Construction / Perm
Loan Amounts: $250,000 to $2,000,000
Cash Injection: 15% for Flags in good standing, 20% for others. Start-ups and inexperienced management may require up to 30%.
Experience: Full service requires full service experience. On-site management by >20% owner.
Collateral: 80% of total Project must be for real estate or construction.
Repayment Ability: Based on historic cash flow of the business.
Minimum debt service coverage = 1.25x for last 2 years plus interim.
Expansion loans available for businesses with increasing trends. Start-up projected coverage 1.25x within 1 year.
Loan Terms: Term up to 25 years. Fully amortized (no balloon). 3yr (5-3-1) prepayment penalty.
Interest Rates: Dependent upon strength of business.
Personal Guaranty: SBA requires from all 20% or more owners.
Our underwriters are professionally trained to keep the interest of the professional a priority. They are experienced in working with borrowers of all sizes. Thus, they can fund loans anywhere in the country! So please call one of our underwriters today at: 317-348-0732
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