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Fountainhead Commercial Capital Finances $4 Million Hotel Acquisition in Tiffin, Ohio
Fountainhead Commercial Capital announced that they financed the recent purchase of the Hampton Inn in Tiffin, Ohio by KRSNA Hospitality, LLC.
Fountainhead provided the $2,175,000 1st mortgage and the $1,522,500 interim 2nd mortgage, comprising 85% of the $4,398,308 project. KRSNA and owner Hemali Patel took advantage of the low rates and favorable terms for owner-occupied commercial real estate offered by Fountainhead and the SBA 504 loan program.
"We enjoyed working with Ms. Patel and her entire, experienced team,” said Chris Hurn, founder and CEO of Fountainhead. “KRSNA is another successful hotel operator that is using the SBA 504 program to grow its corporate portfolio. We wish them all the best.”
Fountainhead Commercial Capital, a nonbank lender specializing in the SBA 504 loan program, was founded by some of the most experienced and awarded SBA 504 lenders around. The company's FastTrack504™