{"id":21338,"date":"2022-12-20T08:58:20","date_gmt":"2022-12-20T16:58:20","guid":{"rendered":"https:\/\/www.tmcfinancing.com\/?p=21338"},"modified":"2023-01-11T12:59:44","modified_gmt":"2023-01-11T20:59:44","slug":"tmc-financing-the-no-1-sba-504-hotel-lender-in-the-nation","status":"publish","type":"post","link":"https:\/\/www.tmcfinancing.com\/es\/tmc-financing-the-no-1-sba-504-hotel-lender-in-the-nation\/","title":{"rendered":"TMC Financing is the No. 1 SBA 504 Hotel Lender in the Nation"},"content":{"rendered":"

SBA 504 Program Provides Hoteliers with Affordable Financing<\/em><\/h2>\n

\"MotelStarting or expanding a hotel business is a huge undertaking \u2013 and securing financing is a large part of it. Luckily for U.S.-based hoteliers, the Small Business Administration\u2019s (SBA) 504 Program is accessible and the most affordable way to finance hotel acquisition or construction.<\/p>\n

The SBA 504 Program<\/a> offers below-market, fixed interest rates to purchase, construct, or refinanciar<\/a> hotels. Equity injection is as low as 15 percent.<\/p>\n

TMC Financing, the No. 1 SBA 504 hotel lender in the nation, provided 22 hotel owners with $70,000,000 in SBA funds to purchase, construct, or refinance their hospitality facility in the fiscal year 2022. One of those hoteliers is Sanjeev Bhanot, a 30+ year veteran in the hotel industry.<\/p>\n

\"\"TMC Financing provided financing to Bhanot to purchase a 124-room Motel 6 located at 125 Silver Leaf Drive in Watsonville, CA<\/a>. By utilizing the SBA 504 Program, Bhanot only needed to put down 15 percent of the total project cost of $11,900,000, which includes the purchase of the building and furniture, fixtures, and equipment.<\/p>\n

\u201cFinancing through the SBA 504 program made the most sense for us,\u201d explains Bhanot. \u201cIt was the most convenient way to get the funds we needed.\u201d<\/p>\n

SBA 504 Financing Beats Alternatives<\/strong><\/p>\n

Motel 6 Watsonville is not the first hotel acquisition for Bhanot. He previously purchased a Holiday Inn Express in Simi\u00a0Valley with an SBA 7a loan. The SBA 7a loan is also backed by the SBA and offers low down payments. The significant difference between the 504 loan and the 7a loan is that the Pr\u00e9stamo 504<\/a> comes with a fixed interest rate for the life of the loan and the 7a loan is variable and unpredictable. The 7a loan also often requires additional collateral.<\/p>\n

\u201cThe 7a loan has a variable rate which is not ideal in a rising interest rate market,\u201d states Bhanot. \u201cFixed monthly payments were important to me, which is why I was set on the 504 loan program.\u201d<\/p>\n

Bryce Fennell who administered the SBA 504 loan on behalf of TMC Financing stated that this project was ideal for an SBA 504 loan. \u201cConventional lenders can require a high down payment for hotel financing, often up to 40 percent. With the unique structure of the SBA 504 loan that allows for a low down payment, hoteliers can conserve their working capital and reinvest it into their business\u201d<\/p>\n

Unique Structure Allows for Low Down Payment <\/strong><\/p>\n

The SBA 504 loan is a second mortgage loan backed by the SBA. The first mortgage is provided by a conventional lender, representing approximately 50 percent of the total project cost. The SBA 504 second mortgage, representing generally 35 percent of the total project cost for hotels, has a long-term, up to 25 years, and fixed interest rate, fully amortized for the full term of the loan. Monthly payments are fixed for the life of the loan.<\/p>\n

\u201cThe entire process is streamlined for efficiency,\u201d states Bhanot. \u201cMy experience was smooth, and I actually enjoyed the whole ride. The structure of the loan not only allowed for a low down payment, but it took headaches away from me. TMC and my bank partnered to solve any hiccups that arose. I was able to be pretty hands-off.\u201d<\/p>\n

Bhanot concludes that he will surely be knocking on TMC Financing\u2019s door again when he needs additional financing.<\/p>\n

Franchised or independent boutique hotels can qualify for the SBA 504 Program. There is no project maximum, and hoteliers can finance multiple projects. Hoteliers can confirm they meet the qualifications for an SBA 504 loan by contacting one of TMC Financing\u2019s\u00a0Expertos en pr\u00e9stamos SBA 504<\/a>.<\/p>\n

 <\/p>\n

Ver comunicado de prensa.<\/a><\/p>","protected":false},"excerpt":{"rendered":"

SBA 504 Program Provides Hoteliers with Affordable Financing Starting or expanding a hotel business is a huge undertaking \u2013 and securing financing is a large part of it. Luckily for…<\/p>","protected":false},"author":12,"featured_media":21342,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","inline_featured_image":false,"footnotes":""},"categories":[166,178],"tags":[376,8772,8410,334,415,481,402,479,150,385,411,320,337,340,335],"class_list":["post-21338","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hotel","category-sba-101","tag-504-loan","tag-boutique-hotel","tag-building-purchase","tag-california","tag-cdc-504","tag-family-owned","tag-financing","tag-hospitality","tag-hotel","tag-loans","tag-real-estate","tag-sba","tag-sba-504","tag-success-story","tag-tmc-financing"],"acf":{"related_posts":false},"yoast_head":"\nTMC Financing is the #1 SBA 504 Hotel Lender in the Nation<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.tmcfinancing.com\/es\/tmc-financing-the-no-1-sba-504-hotel-lender-in-the-nation\/\" \/>\n<meta property=\"og:locale\" content=\"es_MX\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TMC Financing is the No. 1 SBA 504 Hotel Lender in the Nation\" \/>\n<meta property=\"og:description\" content=\"SBA 504 Program Provides Hoteliers with Affordable Financing Starting or expanding a hotel business is a huge undertaking \u2013 and securing financing is a large part of it. 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