Georgia Hotel Owners Secure Triple Success!

Our clients, Georgia hotel owners of three independent properties, achieved an impressive trifecta by closing three loans all within 36 days of each other. Working closely with our entire team, they refinanced two loans and closed a new one, freeing up SBA eligibility, and unlocking new opportunities.

The outcome was impressive: two refinanced conventional loans and the successful purchase of a new Georgia hotel. Additionally, they were able to restructure their ownership simultaneously.

Senior Associate Ryan Dumas expressed his enthusiasm for the project, stating:

My clients possess a deep knowledge of the Georgia hotel market. I’m thrilled that we matched them with a lender who shares their vision for independent hotels. The lender’s flexibility in incorporating all three properties into the deal was key. Because of this, the clients’ loans have extremely favorable rates and the most stable financing available.

What is SBA Eligibility and How Did it Affect These Georgia Hotels?

• The Small Business Association (SBA) has multiple loan programs and guarantees. They each have their own eligibility standards.
• This Georgia hotel took advantage of the SBA 7(a) program. There are also 504 loans and subsets of those which include Green loans.
• SBA 7(a) loans have an upper limit, typically $5,000,000.
• SBA also limits the amount of SBA debt each guarantor can have. In this instance, moving other loans out of the SBA program freed up eligibility. This debt load does not include prior EIDL’s (Economic Injury Disaster Loans).

Is your project a good fit for an SBA loan or combining an SBA loan with other loan types?

• What is the size of the loan or loans you are needing?
• Who will be guaranteeing your loans?
• Do the guarantors have other SBA debt? If so, how much?
• What interest rates and terms do you have on loans you are wanting to finance?
• What interest rates and terms match your budgeting needs and your business plans?

Contact our team if you are considering SBA funding or questioning your eligibility. We can help you figure out the right mix of loan types for all of your business financing needs.

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.