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March 18, 2010
Scientific Capital arranges a 750,000
SBA 7a loan for the re-branding of an independent motel in Lexington
Nebraska to an EconoLodge. The financing structure included paying off an
existing private note and a significant Property Improvement Plan required
by the Choice Hotels.
The project benefited from the ARRA Stimulus funds where the nearly 3%
guarantee fee was waived. The Stimulus program is to expire at the end of
September 2010 but the funds need to be continually approved and allocated
by the Congress. |
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