GRP Capital announces a brand new loan for a first time hotel owner. Our Georgia client is a first time buyer and now owns a 75 unit franchised hotel.
Senior Associate Ryan Dumas worked closely with our client in order to close this loan. Ryan stated, “I love to meet up-and-coming entrepreneurs. Our client just needed a little bit of encouragement to overcome the challenges of closing on a new business loan. We helped him choose the best loan for his needs. We were even able to accommodate him and his wife, so she could sign documents early in order to deal with a family emergency.”
Our client was so pleased to close his loan, he told us, “Thank you so much for all the hard work…we sure had some hiccups but nothing major. Hope to work with you guys again pretty soon on an even bigger project…y’all about to get lot of referrals.”
Are You Ready to be a First Time Hotel Owner?
• Assess if You Can Afford It: Have you built up capital to purchase the business, have some working capital and take on the operations?
• Is the hotel a good fit for you? Are you ready to be onsite frequently in the near term after change of ownership? Do you know the market fairly well? What do you know about the challenges of this hotel and its strengths?
• What is the revenue potential of the hotel? Is the hotel currently running well and bringing in sufficient revenue? If the hotel needs operational changes, do you have feasible plans to turn the hotel around and enough reserves?
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 or purchase, 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.