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Refinance Motel with Conventional Cashout Loan in Minnesota

America Best Value Inn

Thief River, MN

 

Refinance cash out of America Best Value Inn of Thief River, Minnesota

 

Many hotels in tertiary markets are only focused on the local community banks for financing. This often means that the hoteliers are at the mercy of the few local banks and miss the possibilities of better terms and more flexible structure of the regional or national banks. Additionally the hoteliers do not have enough leverage to negotiate for better terms if their span of search is the few local lenders. In this project for example, Scientific Capital was able to refinance the existing bank loan, release one of the guarantors which was a primary reason for the refinance, obtain funds for renovations, pay off an existing SBA 504 loan, consolidate lines of credit, and obtain working capital and fairly large cashout none of which would have been possible through the local community lenders.

One of the complexities of paying off an SBA 504 is the SBA’s nearly two-week window of time open during the month for pay offs making it essential to plan well ahead of time the closing schedule.

 

 

 

 

What Our Client Thinks of Us

 

Ramin, thanks for all your help in securing our Refi…. you were organized & professional, as well as kind which made all of the difference in our interactions with you. Appreciate for your patience and importantly treating us as a friend rather than just loan customers. My friend you definitely stand above the rest, pleasure working with you..!!

Manish Desai

 

Manish Desai visits Scientific Capital at the AAHOA 2016 Long Beach trade show
Manish Desai visits us at the 2016 AAHOA

 

 

 

Our Other Closing in Thief River, MN

 

 See our closing of the Quality Inn of Thief River

 

 


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