Frequently Asked Questions

1. Why HBC Lending?
2. Do you charge fees for your services?
3. How long will it take to close our loan?
4. Does the SBA allow first time buyers?
5. Do you do independent (Non Franchise) and/or exterior corridor hotels?

Why HBC Lending?

We are SBA hotel lending experts. We have over 20 years of combined SBA experience. Most of our years were spent in various senior level positions in banks’ credit administration. We know how to structure loans to get them closed quickly and efficiently. We know how to work with both buyers and sellers to make loans acceptable to both banks and the SBA. We know how to structure deals to make them look most attractive and doable to banks while at the same time helping our clients get the best deal. More importantly, because of our experience, we have developed relationships with banks that allow us to bypass banks’ sales people and work directly with credit authorities. That translates into a much faster loan process and many fewer hassles for our clients. Nobody can bring a deal together faster or more efficiently than HBC because of our experience, connections and approach.

Do you charge fees for your services?

No, we will never charge our clients for our services. We are compensated directly by the bank and never the client. In fact, we advise our clients to be wary of any agents, brokers or consultants who try to collect money for providing loans, whether up front or after closing. The SBA as well highly discourages agents, brokers or consultants from charging individuals to obtain SBA loans. In other words, you should not be charged for being provided with a loan. In fact, the SBA has recently begun collecting information about all brokers and agents associated with SBA loans to discourage these unscrupulous practices. The SBA wants the consumer to know and understand they have free access to this great program.

How long will it take to close our loan?

In general, the process usually  takes within 50 – 60 days of collecting a complete package. We receive feedback from the bank much faster than our competitors because of our extensive underwriting and credit administration experience. We are able to anticipate bank questions and address them prior to submission to streamline the process. We usually receive bank credit decision in very fast time frames of 2-7 business days. We understand time constraints that come with purchase and sale contracts (i.e. financing contingencies, seller pressure, etc.) and therefore always aim to be as efficient as possible. We respond to all requests from all parties within 24 hours.

Does the SBA allow first-time buyers?

Yes, the SBA not only allows first-time buyers but they actually encourage it! Small business owners help grow their local economy and are crucial to the well-being of the overall economy. The SBA was designed to help new and existing small business owners be competitive in the workplace and wants to help all small business owners, whether for start-ups or expansion. Because of this, previous hotel ownership is not a requirement, although hotel management experienced is highly encouraged. At HBC we specialize in assisting first-time buyers. We help walk you through the process from the application phase, to completion of forms for licensing, to franchise negotiations and more. We will “hold your hand” from start to finish during this overwhelming process.

Do you do independent (Non Franchise) and/or exterior corridor hotels?

Yes, we work on both independent and exterior corridor properties. In addition, there are no firm property age restrictions. Ample debt coverage and property condition are most important conditions of the bank.

Call HBC Lending today at 1-800-996-0794