Purchase

WHY BUY NOW?

The summer of 2008 may provide Aspiring Innkeepers the most favorable long term financing opportunities they have had since the Prime Rate was 4%. Reductions in Prime combined with developments in the financial markets are working together now and we are seeing stabilization in loan programs and improved long term interest rates.

Who can predict when interest rates will hit bottom? How long will rates stay at any one level? How can one know when to jump in and begin the process to time the peaks and valleys in the market?

It is any one’s guess, but it generally takes 45 to 60 days to process and close a commercial loan, for that reason now may be a good time to begin the process so that you are ready should you decide it prudent to take advantage of both a “Buyers Market” and reduced interest rates.

Program 1

Conventional/ Full Doc

• Finance up to 85% loan to value (LTV)
• $100,000 to $5,000,000
• Up to 30 year fully amortized term
• Pre-approval in 48 to 72 Hours
• Closings in 45-60 days
• Loans may be assumed by Qualified Borrower/s
• Annual Financials are not Required

Program 2

Stated Income/ No Doc

• NO TAX RETURNS REQUIRED!
• Loans to 75% of value
• $100,000 to $750,000
• Up to 30 year fully amortized loan terms
• Pre-approvals in 48 to 72 Hours
• Closings in 45-60 days
• Loans may be assumed by qualified borrower's
• Annual Financials are not required

Program 3

SBA 7(a)

• Up to 85% financing
• Fully amortized loans with no balloons
• Terms to 25 years
• Loans up to $2 million
• Fixed and Variable rate financing from .75% to 1.75% over the Prime Rate
  
  
  The SBA 504 Program provides a method to finance real estate acquisition and expansion projects through long-term, fixed-rate financing and is differentiated from the 7(a) program in that it is offered in partnership with a participating lender (bank or non-bank).”   The 504 loan program consists of two loans.  The first loan and lien position is offered by an authorized lending institution and the second loan or second lien position is offered by the US SBA via the efforts of a certified development company (CDC). 

• 504 eligible project costs include; 
• Land and building acquisition
• Site improvements
• Building improvements
• Professional fees, including architect, appraisal, environmental
• Other costs, including title insurance, survey, points and interest on interim loan
• Machinery and equipment acquisition 
• The maximum SBA share or loan amount $2 million

• The main advantages of the SBA 504 program are as follows; 
• Small equity injection, as little as 15% toward the total eligible project
• Long-term financing is available, up to 25 years on loan 1 and up to 20 years on loan 2
• Very favorable, fully amortizing fixed-rate pricing on loan 2 at market
• Most closing costs are eligible for project financing
• SBA 504 loans may be assumed 

Call us today, we're happy to help!
(877) 595-2120, and ask for Rick!

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