Scientific Capital logo


press to go to our home page Press to go to Scientific Capital information page Press to see go to hotel loan program page
Home
About Us
Hotel loans
Contact Us




We arrange the purchase and PIP loan for

the Ramada Inn of Cumberland, Maryland

2.7 million SBA 7(a) loan

Purchase loan of Ramada Inn of Cumberland, Maryland

Scientific Capital arranges a 2.7 million loan for the acquisition of the full service Ramada hotel (previously Holiday Inn and converted to Ramada) in Cumberland, MD. The hotel was taken back by the lender in lieu of the foreclosure. Due to the fact that the hotel financial were not available or reliable, Scientific Capital was able to obtain other historical financial information to satisfy the underwriting requirements and to complete the transaction. The choice of the documents as proof of income in these cases depends on the loan program used and the choice of the lender.

In the majority of cases where a hotel is being purchased from a lender, the hotel does not cash flow, does not have historical information, and a lender-hired management company operates the hotel with focused only on keeping doors open until the hotel is sold. To finance any hotel that is owned by a lender, lack of three years of tax returns of the hotel can be compensated by gathering other legal documents from many other sources but at the minimum, the hotel has to be proven to cash flow for the proposed loan amount, probably at an attractive debt coverage ratio which in turn translates to a higher CAP and lower purchase price. It also requires the sponsors to have alternative sources of income and cash flow.

The financing that was structured at 76% Loan to Cost included $400,000 of PIP (Property Improvement Plan issued by the franchisor). The high LTC was a significant achievement considering the challenging parameters of this transaction including the fact that the guarantor was a first time hotel buyer.




What our client think of us

Thanks Ramin for all your help. We would not have been able to secure this without your diligence. I think the guys are planning to swing by Philly and I will catch up with you later some time for some celebration:)

Thank you again

Aravind Mothalampet


 See the Holiday Inn Express review by this client
 See the Ramada of Greensburg review by this client




Learn more about us


Press to go to our client reviews page
About us
Testimonials
Sample hotel
loans closed
Press to go to our capital markets page Press to go to BBB website and see our rating
Our lending
sources
Contact us
 BBB
A+ rating

hotel loan
checklist
Hotel
financing news





Our popular hotel loan programs


Press to go to go to our CMBS hotel loan page Press to go to go to our SBA 7a hotel loan page Press to go to go to our SBA 504 hotel loan page
CMBS
SBA (7a)
SBA 504
Press to go to go to our Bridge hotel loan page Press to go to go to our Conventional hotel loan page Press to go to go to our Construction hotel loan page
Bridge
Conventional
Construction
Press to go to go to our USDA hotel loan page

USDA B&I





2015 Scientific Capital Group, Inc. All rights reserved