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We arrange the refinancing of

LaKiva Motel of Amarillo, Texas

4.1 million SBA 7(a) renovation and consolidation loan

Amarillo Texas hotel refinance

The refinance of the 185 room independent hotel in Amarillo, TX last week which took months to complete merits a review for my readers. The refinance had to pay down the seller carry back and to consolidate it with the first loan for a total loan of 4.5MM at 75% combined loan to value with a first position SBA 7a loan of 4.1MM. Independent hotels are harder to finance in our credit market but if the loan size is larger then the other factors need to be favorable. Age of the building, state of the hotel's upgrades and renovations, active or absent ownership, market tier (primary, secondary, or tertiary), state's economy as related to the hospitality, customer segmentation (tourism vs transit and business), supply of new rooms in that market or state, and even less significant factors such as the quality of the financial documentation of the borrowers and the hotel and the online reviews on google are all factors that if negative can make financing an independent hotel very difficult.

What our client thinks of us

Hello Ramin:
I am writing to thank you for all your tremendous help guiding us through our recent Hotel refinancing through SBA. Thanks again and really appreciate all that you have done to get us through the whole daunting task of sba Loan process, documentation and co-ordination of documents as well as communication between Bank, SBA, and our partners, the attorneys, and others. Knowing we could depend on you to respond quickly to questions and concerns with accurate information made the process much easier. You provided sound guidance when needed and patience when we required.

In this difficult economy, we understand the added difficulty of securing refinance deals and very much appreciate the experience with which you were able to accomplish the task. Thank you again and should we find ourselves in need of loan assistance in the future, we will not hesitate to call you.
Best Regards
Mike Sanin Singh

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