Financing the Purchase and PIP
of Motel in Indiana
Scientific Capital arranges a 1.2
million SBA 7a hotel loan for the
acquisition financing of the Motel 6 Inn in Evansville, Indiana. The
hotel was financed at 75% Loan to Cost (LTC) of just over 1.6MM
including 1.325MM of purchase price, PIP costs, and working capital.
The financing benefited from the ARRA Stimulus funds where the nearly
3% guarantee fee was waived. The Stimulus funds are extended through
the end of the May 2010 with the hope that the Senate Bill S.2869 is
either approved by then or soon after.
This hotel presents a great value for the investor with a projected CAP
of over 20 within the first year of operations. Most investors are too
focused on bank owned hotels and miss many opportunities such as this
Motel 6 acquired directly from Accor. Although a fair number of bank
owned hotels may prove to be good investments, many of them are falsely
viewed as if owned by a bank, it must be a great deal.
What Our Client Thinks of Us
Your services with unsparing efforts, meticulous follow up and support,
are indeed commendable. Our heartfelt comment is that you stand second
to none in your integrity, diligence and prudence. We have no
hesitation in recommending you strongly to every one in the hospitality
industry. All the Best and see you in Las Vegas at CHI's conference.
Nataraj.V. Kote & Vipul Shah
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
| See the Red Roof Inn review by this client
|| See the Clarion review by this client
Vipul Shah visiting Ramin at the Scientific Capital booth at the AAHOA 2015 in Nashville
Nate and his wife visiting us at our booth at the AAHOA 2019 in San Diego
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