Finance the Purchase of Motel with SBA 7(a) in Texas
Scientific Capital was referred to the buyer through a family member of the buyer who was himself a client who was referred to us through yet another client, so this is the 2nd level of referral and the essence of Scientific Capital’s business model which is centered on loyalty and trust of the network of family and friends of a client.
As usual, the financing project had challenges such as the lack of ownership and operations experience of a larger franchise hotel of the buyer which was among the reasons the local lenders had declined the loan. Scientific Capital took over on 18th of September, obtained and lender’s approval on the 23rd of September, and closed the loan on the 14th of November. Since this buyer was not having any prior ownership with acquisitions of hotels specially the franchise hotels, the buyer benefited from the comprehensive service we offer our clients which is the handling of any and all aspects of the transaction including the communications and the obtaining of approval of the franchise, the communications with a number of insurance agents to obtain the insurance policies, the communication with the city and county to investigate the requirements for DBA and business license, the continued communication with the seller to obtain information and documents, and all other vendors and parties involved with this transaction.
I would like to express my sincere thanks to you for the remarkable consultation and loan securing services that were provided by you during my acquisition of Super 8 in Amarillo, TX. From the day I contacted you in regards with securing a hotel/motel loan for a prospective property that I was interested in, you assisted me at every step and guided me through all of the loan/bank approval processes, resulting in a timely and successful closing of my loan. In addition, due to a very tight escrow timeline involved in the closing of my hotel acquisition, you made sure that my loan approval process was always on track and that it was getting your undivided attention with you being in constant communication with the lenders and other report generators that were requested by the lender. Also, your timely communications and documents requests with the seller of the property helped expedite the whole loan approval as well.
Overall, I am very pleased with your timely responses and attention to each and every detail and situation that arose along the way of getting my loan approved and closed on time. However, I believe, the most important aspect of our business dealing was the honest opinion and feedback that you had provided to me you as a hotel/motel lending expert. I felt that was very valuable to me.
I look forward to working with you in the future.
Thank you once again,
This loan was referred by Pinal Patel, a family member of Ms. Bhumika Desai – here is the review from Pinal:
On behalf of Bhumika and I, I would like to express my sincere gratitude for closing of this loan in an as expeditiously as possible.
Bhumika and I have been talking in the background at regular intervals sharing updates in regards with the status of the loan and its approval process, so I understand the loan approval took some effort to get it approved and closed especially due to the tight timeline involved with this transaction but then, as we both understand by now, no loan approval process and closing is as simple as it sounds at first. Also, thanks for being a guiding voice to Bhumika at times and expressing your honest feedback and opinion to Bhumika’s questions.
As for referral, I will keep referring your name to my circle of friends and family whenever they have a need for hotel loan. Lets continue doing business in the future.
Lastly, wish you and your family continued best luck and greatest of health and prosperity.
Pinal Patel, Sunland Motel, Mesa, Arizona