Refinancing Hotel to Cashout
in Louisiana

Comfort Inn Bossier City, LA

Scientific Capital financed the purchases of this hotel back in 2018. Back then, the financing through the proforma based SBA 7a program was challenging as the seller had filed for Chapter 11 reorganization. Our client converted this hotel from Quality Inn to Comfort Inn and turned it around into a profitable hotel. Having significant equity in the hotel, our client requested to refinance the hotel with a $4.3 million conventional loan to include a $1.5 million cashout to use for other investments and to buy out partners. Scientific Capital was able to arrange a conventional loan with 1-year adjustable rate at competitive rate but with no prepayment penalty. The advantage of the 1-year ARM loan is that as the rates drop in the next two years, our client will take advantage of the rate cuts during the next two years and will re-structure the loan with the same bank or refinance with another bank to convert to a fixed low rate for longer period such as 5 years.

What Our Client Thinks of Us

The following reviews are from 2018 when we financed the purchase of the hotel under the SBA 7a program.

Ramin: Thank you so much for your help and extra ordinary work that you have done on this deal, it wouldn’t be possible without you. You have always been ahead of every single process and stayed on top of it . I have never seen a broker like you who has patience and you are the one who kept us alive in this deal, and gave us a hope. A hard work you have done with not only seller part but also us as a buyer as we had minus points too. But you have made possible and my family became a first time hotel owner because of you . Definitely in future when we have any opportunity, the first call you will get will be from us.

Anand Patel

Managing Member

Ramin: Thank you very much for helping us get financing for Quality Inn& suites. You were perfect consultant for this tough project. You are on top of all the things associated with the transaction and kept everyone is loop. You were very friendly to work with and so helpful getting everything done professionally. We put our trust in you and you most definitely came through for us. Thank you Ramin for all your help getting this loan. Will definitely recommend you to our friends and family.

Milan Patel

Managing Member

Ramin: It was completely an impossible deal but with your very positive efforts we made it. I know it was tough for you in the process, but you still made it happen. We are and will always appreciate your help in this entire process and we will sure work again for another deal. Thank you!

Mitesh Patel

Member

Our Other Projects With This Client

What differentiates us from the others is loyalty of our clients. Here is the other hotels that we financed for this client not to mention a number of referrals that we got from this client.