financing of this hotel had one major issue, the borrower was not a US
resident or citizen and did not live in the US. He only had a business
in all such cases, the lenders do decline to finance such borrowers.
The available options are either CMBS loans, private loans, or in very
rare occasions, bank loans. Many hotels do not qualify for the CMBS
loans due to the type of the hotel or its profitability. Private
financing is too expensive and may not be a practical option. Bank
loans are very limited to source for foreign investors. In this
project, the only choice applicable was a bank loan and Scientific
Capital was able to source a proper lender for this transaction.