This was an SBA 7a purchase loan that was used for the purchase of a Best Western.  The challenge on this deal was that we had a buyer without any hotel industry experience at all.  However, this buyer had good liquid assets for injection and also good outside sources of income.  We were able to convince the lender to do the deal and that the buyer would have success operating the hotel.  We were able to do this by showing the bank analysis of the buyer’s outside sources of income to add support to the deal.  Also, we were able to outline how successful the buyer was in their other business endeavors and how this experience was transferable to the hotel industry.  This was a very creative approach and it also took a great deal of analysis and detail to convince the bank.  However, we were able to get it done for the buyer at an exceptional interest rate as well!

Client Comments:

“Shawn was very helpful and knowledgeable.  Many thanks to Shawn for all of your help and guidance along the way.  He went out of his way to provide support and it was critical to get the deal closed to meet the closing deadlines.  Thank you for all of your help and I hope to work together with you in future deals as well.”

Steven Y., Franchise Hotel Owner