Refinance of Hotel with Conventional Loan for Non US
resident in North Carolina
The financing of this hotel had one major issue, the borrower was not a US resident or citizen and did not live in the US. He only had a business visa. Nearly in all such cases, the lenders do decline to finance such borrowers. The available options are either CMBS loans, private loans, or in very rare occasions, bank loans. Many hotels do not qualify for the CMBS loans due to the type of the hotel or its profitability. Private financing is too expensive and may not be a practical option. Bank loans are very limited to source for foreign investors. In this project, the only choice applicable was a bank loan and Scientific Capital was able to source a proper lender for this transaction.
What Our Client Thinks of Us
We decided to go to you because of our past satisfactory experience and your ability to deliver. You did not disappoint us this time either. You handled the Econolodge refinancing project using all your abundant professional skills and resources. As usual, you were intent on finding solutions to problems rather than getting overwhelmed by them. I am sure the lender was equally happy with your deft handling of mutual communications and ability to mediate in the event of a dispute. This is to thank you for your help and we would be sure to recommend you to our other contacts. We wish you the very best in the future.
Our Other Projects With This Client
Refinance for non-US resident foreign ownership
Lake George, NY
Refinance and include renovations for foreign investor