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TMC Financing, an SBA 504 real estate lender, recently worked with hotel owner, Alex Patel, to secure $2.8 million in total project financing. The funds were used to purchase the much sought-after Americana Modern Hotel, located in downtown Redding, California.
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(English)
TMC Financing’s SBA 504 Refinance loan not only lowered Muhammad Khattak’s occupancy costs by approximately $4,000 per month but proved to be a vital tool against the financial impact of the coronavirus pandemic.
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对不起，此内容只适用于美式英文。 For the sake …
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(English)
TMC recently helped hoteliers Vikas Patel, Chotubhai Patel and Tejal Patel, secure $5.4M in total project financing. The funds were used to purchase two hotel properties in Napa. By utilizing multiple SBA 504 loans, the Patel’s were able to obtain 80% hotel financing at a below market rate, fixed for 25 years.
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对不起，此内容只适用于美式英文。 For the sake …
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(English)
Business owners seeking financing for a hotel construction project have several options they can pursue, but not all are equally attractive.
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(English)
There’s a lot to think about when buying commercial real estate for a hotel, and financing your purchase is one of the biggest questions you will face. While many prospective hoteliers know about the 7(a) loan program offered by the Small Business Administration, not everyone knows that there is another option that might be even more attractive: the 504 loan.
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See how TMC’s SBA 504 loan program helped these business owners control occupancy costs.
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“You have to know what to look for and be willing to invest in what it takes to make the property more attractive,” says hotel broker Howard Mathews. “If you can get another 50 percent in revenue per available room, you know it’s worth it. Jay and Don like to work with Jim and TMC. They have good people who know what they are doing and can get deals done.”
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“There were so many reasons for the banks to say no. It’s non-flagged, ground-up construction in a remote area, needing all of its own infrastructure, following the economic recession and just after the Rim Fire. Without the SBA piece from TMC, we couldn’t have gotten this done.”
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