This was an SBA 7a loan for the purchase of an independent property.  The challenge on this loan was that the buyer had absolutely zero hotel experience.  Additionally, the property was an independent property.  It is generally quite difficult to find the right lender to do these types of properties.  Lastly, the buyers had a very low rate expectation.  We were able to convey the positives of the deal to the bank and mitigate the buyer’s lack of hotel industry experience.  We were able to find the buyers the right lender to do the deal for them at a great rate!

Client Comments:

“Shawn was great to work with on our very first hotel purchase.  He was always available and helped navigate us through the entire process from beginning to the end.  He explained every step of the process to us as we went along.  We felt very comfortable and informed the entire time.  He was able to close the loan for us at a great rate too! It was a great pleasure to work with Shawn and I would definitely refer him to anyone seeking SBA loan.”

ESP, Inc.

This was an SBA 7a purchase that was used for the acquisition of a Baymont Inn & Suites.  The challenge on this deal was making sure that the lender used a qualified hotel appraiser.  At HBC, we insist that our lenders use qualified hotel appraiser specialists on all of our deals.  This is very important as the appraisal can make or break a deal.  The appraisal should always be done by an appraiser who appraises hotels exclusively, otherwise, the appraisal itself can be done poorly.  An appraisal that is done poorly can often cause problems. For example, the property may under-appraise or the bank may take issue with the appraisers approach and require a new appraisal to be done by a new appraiser.  In this case, we were able to convince the bank to use a hotel appraisal specialist.  The deal appraised properly and we were able to close the deal.

Client Comments:

 

“We had a very great experience working with Shawn. His patience and expert knowledge helped us throughout the loan process greatly and was the key reason we were able to close our deal. He provided tremendous value and we learned a lot from him. Thank you again Shawn for your help and we look forward to working with you again in the future.”

GK Gaurang — Franchise Hotel Owner

This was a CMBS purchase loan used for the acquisition of a Holiday Inn Express.  The challenge on this deal was we had a non U.S. citizen (Canadian Citizen) purchasing the property.  Our CMBS lenders are perfectly fine with working with foreign nationals as long as the country of origin of the primary principal is from a western country.  We were able to secure a strong CMBS lender, obtain the buyer and excellent interest rate and also close the loan in 41 days!

Client Comments:

“I worked with HBC on a recent difficult transaction. HBC was able to help us navigate the challenging financing process, which included a shorter term on the franchise and price reduction. HBC was professional and quick throughout the entire process. I would recommend HBC to anyone looking for assistance in securing hotel financing.”

Eric Guerrero, Vice President, CBRE Hotels

This was an SBA 7a purchase loan that was used for the acquisition of a Best Western property.  The challenge on this deal was that we had a buyer with very limited industry experience.  Additionally, the seller needed us to close on this transaction as soon as possible.  We were able to secure financing for the buyer and close the deal in under 60 days.

Client Comments:

“I had the pleasure of working with Shawn on this Best Western Plus deal located in Indiana. Shawn was very professional and knowledgeable in not only his field in lending but in the hospitality market as a whole. Additionally, he was prompt in addressing all issues and tasks that were both required to close the deal efficiently. I look forward to working with him on more deals in the future.”

Justin Westad, Marcus & Millichap Associate

This was an SBA 7a purchase loan that was used for the acquisition of a Best Western Plus property.  The challenge on this particular transaction was that the buyer did not have any direct industry experience.  However, the buyer had transferable experience in the form of being a very successful real estate property owner.  We were able to convince the bank that the buyer is well versed in real estate ownership and would be an excellent operator of the subject hotel property.  The bank ultimately got on board with the transaction and we were able to close the deal under 60 days.

Client Comments:

“Shawn was instrumental in working with us on a recent hotel purchase. As a first time buyer
Shawn went above and beyond the call of duty to secure a lender coupled with providing impeccable support and service to us throughout the application to the closing process. There is no question that we highly recommended Shawn and his services to anyone seeking an SBA loan and hope to be a repeat customer in the near future.”

Eninanc, Inc., Franchise Hotel Owner

This was an SBA 7a purchase loan that was used for the acquisition of a Suburban Extended Stay property.  The challenge on this deal was the need to close in a timely fashion to meet a relatively short closing schedule along with challenging lower down payment loan structure.  We were able to able to find a lender that could work through the deal and assist in closing the deal fast! We worked closely with the buyer and lender to make sure we were constantly ahead of schedule so we could ensure that the closing deadlines were met.  We were able to close the deal with time to spare!

Client Comments:

“Shawn worked diligently on our part to help secure great financing for us. His bank contacts were essential and we greatly appreciated his expertise, working side by side with us, the lender, seller’s broker and agents all the way through the process. His willingness to carry the load really helped make it happen in the end. We will definitely be calling Shawn again to help with our next deal.”

Sanjay Patel, Hotel Owner