Feb. 6, 2013
-- Scientific Capital arranges a 4.2 million loan for the acquisition of the full service Ramada hotel in Greensburg, PA. The hotel was taken back by the lender in lieu of the foreclosure. Due to the fact that the hotel financials were not available or reliable, Scientific Capital was able to obtain other historical financial information to satisfy the underwriting requirements and to complete the transaction. The choice of such proof of income depends on the financing program and the choice of the lender.
The financing that was structured at 80% Loan to Cost included $650,000 of PIP (Property Improvement Plan issued by the franchisor). The high LTC was a significant achievement considering the challenging parameters of this transaction.
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, contact Ramin Mostaan at (949) 477-5000 or email him at email@example.com.