This was an SBA 7(a) loan used for the purchase of a Magnusson property. The challenge of this loan was that the buyer had a executing a lease purchase option on the property and the negotiated sale price in the lease purchase agreement was much less than the value of the property today. Also, the property was older and was very large. The buyer was able to gather the documentation necessary to support his injection towards the purchase. Also, the bank was able to do a loan for the full payoff of the loan given the strong appraisal value based upon present market value.

Client Comments:

“I recently completed the purchase financing of a hotel property. During the process I found Shawn to be extremely capable. He helped find a viable lender then guided me from application to closing. Shawn was indispensable throughout the entire process. I am a repeat customer and this is the second loan I have done with him. I recommend HBC to anyone seeking an SBA loan or conventional financing.”

Raj Patel-Franchise Hotel Owner