New Mexico Hotel Refi Offers Low Rates

GRP Capital New Mexico hotel owners secured financing that offered market-best low rates.

Ryan Dumas and the GRP Capital team worked very diligently with this client group. The partners really had one overarching goal: securing lower rates. Their current note had a high interest rate. Therefore, their new loan needed to show significant savings. An SBA 504 loan was the best choice for them. It offered stable, low rates. More importantly, the SBA guarantee made the loan more attractive to lenders.

Senior Associate Ryan Dumas reflected on the path to get the loan closed. “Our clients are experienced in this marketplace. However, New Mexico is a smaller market. We needed the SBA to help support this loan in order to entice a lender. I was thrilled that this new loan is a full 3 points lower than the clients’ previous mortgage. They will be saving serious money, which they can use personally or professionally. They will continue to be a significant employer and business in their small town.”

Using an SBA 504 to Access Low Rates

• GRP Capital has connections with multiple CDC’s across the nation and the lenders who are interested in 504 loans.
• The 504 program requires utilizing a Certified Development Company (CDC). The CDC is SBA’s community-based nonprofit partners who promote economic development within their communities. CDCs are certified and regulated by SBA.
• The SBA 504 structure guarantees loans, so that lenders face lower risks.
• We are very careful to ensure sufficient SBA eligibility prior to choosing a loan vehicle. If you have any questions about what this means, please contact us.
• In many marketplaces, the SBA guaranteed loans are competitive with conventional loans.
• SBA loans may often be the best bet for achieving lower interest rates.

Contact Ryan if you are considering SBA funding, 504 Loans, Green Loans or any other loan products.

Our GRP Capital team specializes in finding the right lender for each project. We save our clients time and money, as we research the best choices for their funding sources. Our experience allows our clients to find funding that is project-appropriate and will allow for sufficient cash flow. Whether you are looking to refinance, purchase or engage in construction, we would love to discuss your business plans with you. If you are considering becoming a first-time (or second or third time!) buyer, we can assist you.