This loan was an SBA 7a purchase of a Best Western property.  The challenge on this loan was meeting the deadlines imposed by the contract and seller.  Also, to find a great rate and low down payment for the buyer.  We were able to keep ahead of schedule throughout the entire process.  We are able to do this because of our extensive underwriting backgrounds and our vast experience closing hotels.  We know the entire process from start to finish in detail.  This information is invaluable and allows us to make sure our clients stay ahead of schedule so we can ensure we close the deal on time in accordance with the purchase contract.

Client Comments:

“I worked with Shawn on my first purchase of a hotel.  Shawn works very hard for the best for his clients.  He was able to get me a real good deal with the bank.  Also, he was able to help me with some of the franchise process, insurance process in addition to the standard bank process and paperwork.  He really is an expert in hotel lending.  I could not have got this done without him.  I will definitely be working with him on my next deal!”

Jacky Patel, Franchise Hotel Owner

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

This was an SBA 7a purchase loan that was used to purchase a Comfort Suites property.  The challenge on this deal was that we had a lot of pressure for deadlines that were applied by the seller.  We were able to talk with the seller and walk him through the necessity for him to do the things requested so that we could close the loan.  Ultimately, the seller became cooperative and we were able to get the loan closed for the buyer.

Client Comments:

“Shawn was a true professional the whole entire way through the process.  Shawn was always very fast in responding to any items the bank needed or that we need to complete.  He was very knowledgeable and he helped me in so many ways to make this deadline.  I am an experienced owner and I have worked with many lenders and brokers in the past and Shawn by far is the best I have seen! I will definitely be working with Shawn again and I will recommend him to anybody I know that his looking for a hotel loan.”

Bob Patel – Franchise Hotel Owner

This was an SBA 7(a) Pari Passu loan.  A Pari Passu loan is part SBA 7(a) and part conventional loan as a single shared loan. This loan structure is very creative and hard to get done.  It was necessary because the buyer did not have enough room in SBA loan loan eligibility since he already had an existing SBA 7(a) loan.  However, because of HBC’s SBA expertise and excellent bank contacts we were able to get it done in only 38 days!

Client Comments:

“Shawn is an expert in the field of hotel financing.  He was honest and very hard working.  He was always there to answer any questions I had.  His knowledge of the process was critical in keeping us ahead of schedule. We were able to close on the purchase amazingly in only 38 days.  The loan was also very creative.  It was called an SBA 7a Pari Passu loan.  These are very hard to get.  However, with his knowledge and great bank contacts we were able to get it done.  I will definitely be using him again in the future. .”

Vic Patel – Franchise Hotel Owner

This was an SBA 7(a) loan used for the acquisition of a franchise Holiday Inn Express. The challenge on this deal was the buyers lack of hotel operational experience. However, the bank took into consideration the buyer’s ability to be successful business people when considering their approval. We also faced some challenges with the franchisor as well when attempting to close and we were able to overcome those challenges as well and close the deal in a very short time frame.

Client Comments:

“It was a great experience working with Shawn. Shawn’s assistance in every step of the way made it a very smooth process. Shawn was very professional and knowledgeable. He is 100% committed to his clients and always responded very quickly to our questions and needs. He taught us a lot about the process and the business. We are very thankful for all of his help and will definitely work with him on all of our future deals.”

Artiso Holdings – Franchise Hotel Owner

This was an SBA 7(a) loan used for the acquisition of a franchise Travelodge. The challenge on this deal is that the buyer wanted to have the lowest down payment possible. Fortunately, the seller was able to provide a very recent appraisal conducted on the property. This appraisal was very strong and had an appraisal valuation that greatly exceeded the purchase price. We were able to provide the bank with a copy of that existing appraisal and the bank reviewed and accepted it. The bank was willing to do a loan that was 93% of the purchase price. This significantly decreased the buyer’s down payment requirement.

Client Comments:

“Shawn has been a critical part of my hotel brokerage business. I consistently rely on his professional opinion when qualifying potential investors. His ability to guide first time buyers through the purchase process makes him an invaluable piece to my professional success. We recently worked on a purchase together where the buyer amazingly only had to put down 7%.”

Skyler Cooper – Marcus & Millichap National Hotel Group