Refinancing Hotel with Conventional Cashout Loan for
Foreigners in North Carolina
Baymont Inn and Suites
Obtaining a loan for a hotel if the owner or the buyer is a foreign investor or a non-resident is fairly challenging in the US. Generally, foreigners or non-residents obtain non-recourse loans to acquire a hotel in the US. However, with the recent tightening of the non-recourse loans, many hotels do not qualify for those loans. Scientific Capital can go beyond this generic option offered by the market and locate lenders including banks who are willing to finance hotels for foreigners. In this case, the Baymont Inn and Suites was owned by a public company in India with a sponsor who is a foreigner. Scientific Capital was able to refinance this loan in spite of challenges such as foreign ownership.
What Our Client Thinks of Us
This is to thank you for your diligent efforts in securing our refinancing over a long stretch of time. Our case was not a routine one. It needed additional efforts to work with the lenders in explaining the complexities of our corporate structure. We found you to be patient and willing to understand to make it work. There were several moments during this process when it seemed to be going nowhere. But you were resourceful to find solutions and keep it on the track.