Refinancing Three motels with Conventional Loan in Oregon
Days Inn, Rodeway Inn, Dunes Motel
Scientific Capital arranges 3.83 million for the refinancing and cash out of the Days Inn, Dunes Motel, and the Rodeway Inn of Bend, OR. Many hoteliers in tertiary markets are in dire need to refinance, change the debt structure, cash out to finance major renovations, or simply to end a banking relationship and start a new mutually beneficial one. Unfortunately, in these markets, options are limited to the few local community or commercial banks. The national lenders are only focused on SBA loans and avoid conventional loans for economy brand hotels in these markets. This is where Scientific Capital comes to assist these hoteliers with options that otherwise is not visible to these hoteliers. In this case, our client was in need of financing for all of his hotels, but unfortunately, he had no options for a conventional loan in this market. Scientific Capital was able to finance all three motels through out of state lenders, cash out for PIP and renovations, and include working capital.