$2.6 Million Loan Request for the
Refinance and conversion of
Quality Inn & Suites of Uniontown, PA
to Wingate by Wyndham
Terms and Conditions
You are given access to this loan proposal memorandum because Scientific Capital has determined that you (LENDER) have indicated that you have interest in reviewing this loan request and the lending capacity in offering this loan. The information provided in this memorandum is confidential and may only be shared with LENDER’s internal staff and should not be shared with other lenders, brokers, vendors, and third parties unless authorized by Scientific Capital. LENDER is not authorized to pull credit from the borrowers unless the borrowers have signed LENDER’s authorization form.
This memorandum is prepared by Ramin Mostaan and any questions or comments should be directed to him at the following contact information:
949 477 5000 (Office)
949 302 8300 (Cell)
To refinance the hotel with a USDA B&I loan to convert from the Quality Inn to Wingate by Wyndham hotel. This 69 room interior corridor hotel has an expected $730K PIP (Property Improvement Plan) required by Wyndham hotels to convert to Wingate.
- Hotel is historically profitable and has stable revenue and in fact will have higher ADR and occupancy once this conversion takes place
- Multiple strong guarantors, all well established and experienced hoteliers with other hotel operations in multi states including PA
USDA B&I is the option suitable for this project specially because the owners have exhausted SBA allocation. A contact with the USDA office in PA indicated that the state has exhausted the state-level funds and unless new budget is approved for the new year, any loan request has to compete for the national funds which is generally a more time consuming funding process than the state-level.