March 1, 2012
-- Scientific Capital Group arranges a 2.1 MM SBA 7a loan for the acquisition of the Sleep Inn in Chesapeake, Virginia. The project was financed through a non-FDIC lender at 80% Loan to Cost. The purchase included 200K for the PIP renovation of the hotel as recently required by the Choice Hotels Sleep Inn Dream Package. The buyer who leased the hotel for one year exercised his option to purchase.
As advocated by Scientific Capital, this and many other clients sign a one-year lease for the hotel that is believed to have significant upward potential but is either foreclosed, auctioned, or is not profitable. By operating the hotel for a year, the investor can discover the true revenue potential, the realistic level of expenses, and the viability of the investment. If a suitable investment, the investor having established a year of reliable operating financials and a tax return is able to obtain acquisition and possibly PIP financing. With the economy on an accelerated rebound, if the hotel is not marred by other negative factors, the financials should show solid debt coverage for the financing. More on hotel financing updates and news can be found on www.scicap.com/
Scientific Capital Group, Inc. (www.scicap.com)
is a hotel financing advisory and brokerage company established in 2003 in Irvine, California offering services throughout the 50 states. For more information, please contact Ramin Mostaan at (949) 477-5000 or email him at firstname.lastname@example.org.