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Refinancing / Cashout Hotel with 80% Conventional Loan in West Virginia

Quality Inn
Morgantown, WV

 

The goal of obtaining this loan was to refinance the existing adjustable rate SBA 7a loan with lower fixed rate conventional loan but with cash out up to 80% Loan to Value. However, it is a very difficult undertaking to refinance hotels specially economy and mid-tier brands and cash out at high loan to value. The factors that help achieve a successful refinance like this one is to have strong and stable cashflow, upgraded hotel, and multiple/stronger sponsors. We also were able to structure of the loan with a portion of the funding as a line of credit for the future use in other investments.

 

 

Our Other Projects With This Client

A major differentiator between us and the others is the loyalty of our clients. Here are the other hotels that we financed for this client not to mention a number of referrals that we have received from him.

Purchase of Holiday Inn Express of Williamsburg, VA

 


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