This was an SBA 7a purchase loan for the acquisition of a Travelodge property. The challenge on this deal was a first time buyer. We worked with the lender and showed that the buyer had some degree of industry experience of a year of hotel management. The buyer also had other family in the area that could provide hotel management consolation as well.

Client comments:

“Shawn was very helpful and we learned a lot from him in the process as first time buyers. Shawn helped with everything from the franchise process, to finding survey working with title, and the bank. Also we closed the deal on time even though we had a tight closing deadline. It was a pleasure working with Shawn and I look forward to working with him on my next deal in the future.”

 

Nishant Patel – Owner 

This was for the purchase of a Best Western. The challenge on this deal was that we only had the most recent tax year in 2015 reflecting adequate net operating income for debt service. We were able to convince the bank that the buyer would continue and improve the business based upon his great experience.

Client Comments:

“Shawn is a true professional and he was a pleasure to work with on my recent purchase. He worked diligently to find me a great rate with an aggressive bank. He helped guide me through the entire process. He was there to answer questions, to recommend other needed professionals such as a surveyor and an insurance agent. Also, he was very familiar with the Best Western process and assisted me with the application process as well.  I’m definitely working with Shawn on my next deal and I would strongly recommend him to anyone in need of hotel financing.”

This was an SBA 7a loan for the purchase of a franchise hotel.  The challenge on this deal was that we had a very strict closing deadline since the buyer’s earnest money was “hard” from day one of the contract.  At HBC, we only work with lenders that ultimately perform and close loans.  We explain to our clients to be wary of many other brokers and lenders in the market that are less than honest and have poor reputations of bringing deals to the finish line.  We do a great deal of volume with our lenders, and because of this they offer our clients high level of customer service and stay on top of our deals.  We only work with lenders who can perform and close deals as our reputation is also on the line with our clients.  At HBC, our clients trust and our strong reputation is paramount and something that we will never compromise.

Client Comments:

“It was a pleasure to work with Shawn.  He answered all of my questions and tried to make the whole process as smooth and easy as possible.  I would highly recommend him as a professional.  He is a hotel lending expert.”

This was an SBA 7a purchase loan for a franchise property.  This deal required that we were able to get the buyer a premium rate and term and also close in a short time frame.  The buyer on this property was very organized and a very experienced hotelier. The fact that the buyer was very experienced and highly organized were both key to achieve the buyer’s objectives and close fast with a great rate.  Most buyer’s that we work with want to close the deal asap and they also want excellent rate and terms on their loan.  We are able to get our clients excellent rate and terms on their loan primarily because of our excellent underwriting backgrounds and also because of our ability to leverage our high loan volume and strong relationships with banks to our clients benefit.

Client Comments:

“I appreciate all of Shawn’s hard work. Working with Shawn has been a pleasure and I would like to definitely work with him again in the future. Shawn knows what he is doing very well and makes the whole entire process very smooth, quick, and easy. I will definitely recommend him to my friends and family.“

Raju Patel, Franchise Hotel Owner

This was for the purchase of a franchise hotel.  The challenge on this deal was that the property was determined to be in a flood plain.  If a property is determined to be in a flood plain then the bank must require that the buyer obtain flood insurance on the property.  The problem on flood insurance is that the bank does not know what amount of flood insurance that the buyer will need to obtain until after the appraisal comes in from the appraiser.  The bank then requires that the buyer provide the bank with the original declaration page as the only form of proof of flood insurance. This only can create issues if the property is in a tight closing deadline.  The problem is that it can commonly take an insurance agent up to two weeks to obtain this declaration page.  We were able to put the buyers in contact with highly recommended insurance agents that were more than capable of obtaining the flood insurance declaration page very fast for our client.  We were able to close the deal prior to contract expiration because of our extensive experience and our ability to identify potential problems and neutralize them before they cause any closing delays.

Client Comments:

“Shawn thank you for all of your hard work and professionalism throughout the process.  You were very knowledgeable and myself and my team were all very impressed with your responsiveness and ability to navigate us from approval to closing with very limited problems.  I look forward to working with you again in the future.  I will definitely be referring my friends and family to you if any of them are in need of hotel financing.”

Sam Patel, Franchise Hotel Owner

This was an SBA 7a purchase for an independent property to be converted to a franchise property.  The challenges on this deal were that the owners had extremely limited hotel management experience and that the property was an independent property.  Most lenders will not even consider a prospective for the purchase of a hotel unless they have a moderate amount (1-2 years) of hotel experience.  Furthermore, lenders that do consider buyers with very limited experience will only do so if the buyers are purchasing a franchise hotel.  We were able to convince the bank that these buyers were adept businesses owners and would continue to successfully operate this already performing hotel.  We are able to get the lenders to think “outside the box” because of our underwriting backgrounds.  We are able to communicate with credit administrators seamlessly.  At HBC, our underwriting background serves as a unique advantage for us because deals that would be otherwise declined are most often approved in our favor.

Client Comments:

“As first time hotel buyers we weren’t quite sure what to expect with the loan process.  We talked with several lenders and went with Shawn because he gave us the most confidence that he would close the deal.  Shawn has relationships with a number of lenders which meant he could shop the loan to match us and the deal with the right lender.  We were able to speak quite candidly with Shawn about any challenges and he guided us through the process from start to finish.  Shawn will be our first call on our next hotel purchase.  Thank you Shawn!”

P.V., Inc.