Hotel Conversion

  1. 2018
  2. Hotel Conversion

This loan request provided the capital necessary to acquire and convert the existing Econo Lodge to a Days Inn in Atlantic Beach, FL.  The SBA 7A product is the ideal loan program in this scenario because it limits the down payment required and gives the borrower the necessary time to finish the renovations required to complete the conversion and provide time for the business operations to stabilize.  This program also has no balloon payment and gives the client a 25 year term.