Closed Loan – $1,410,000 @ 90% LTV Hotel Purchase & Working Capital

Transaction Overview – Baymont Inn Purchase

When we say our SBA program is unrestricted, we really mean it’s unrestricted! This borrower was under contract to purchase a hotel in Michigan and only had 10% down and no other real estate (not even his primary residence was owned).

He also needed working capital to help ramp up operations and he only had a 638 credit score. Needless to say, this borrower could not find financing anywhere, until…he found South End Capital.

We provided the borrower 90% purchase financing, we financed all the closing costs and gave him an additional $85,000 in working capital. The borrower received a 6.25% rate, amortized over 25 years and the keys to his first hotel!SBA Unrestricted Program

SECC offers an aggressive SBA loan program priced at a maximum annual interest rate of 6.25%, amortized over 10 years (25 years, if the business has available real estate collateral). The program features one affordable monthly payment and often no prepayment penalty. SECC can consolidate a business owner’s expensive merchant cash advances or business debt, remedy stifling business issues, provide expansion or purchase funds and offer unrestricted working capital to assist with new growth and other business needs. SECC imposes few business-type restrictions, will consider borrower credit down to 580 (or lower), can work with past borrower bankruptcies or foreclosures, and will fund from $250,000 to $5,000,000 in all 50 states. We only need one year of tax returns to qualify a business and we’ll even consider startups.

Closing Highlights

Flagged Hotel

Michigan

90% purchase financing
Working capital provided
6.25% rate, 25 yr. term
Monthly payment
638 borrower credit score
Program Highlights

Program Parameters

Nationwide

Financing from $250K to $5MM
Low credit score minimum
Most industries considered
No collateral required
Broker rebate available
Contact: Joel Soforenko
Continental Finance Capital Corp.

(617) 336-3215 x 5 (Office)
(888) 498-0580     (Fax)
joel@continental.finance