Financing a Hotel Purchase with SBA 504 Loan in Virginia
Scientific Capital arranges a 3 MM SBA 504 loan for the acquisition of the Comfort Inn in Virginia. The project was financed as 80% Loan to Cost (LTC) with the first position financing through an FDIC lender and the 2nd position loan through the SBA. Previously the 504 loans could be used for hotel acquisition at 85% Loan to Value but starting this year, the 85% financing can only be applied to business expansion in which the ownership structure of the expanding business remains unchanged.
Our Other Projects With This Client
A major differentiator between us and the others is the loyalty of our clients. Here are the other hotels that we financed for this client not to mention a number of referrals that we have received from him.
Sleep Inn of Chesapeak, VA
Holiday Inn Express of Mebane, NC and the review of this client of our performance
Springhill Suites of Prince Frederick, MD
Kalpak visiting us at the AAHOA 2018 tradeshow in Washington DC