GRP Closes Hotel Refinance in New Mexico

GRP Closes Hotel Refinance in New Mexico
by Keren Alpert

GRP Capital is pleased to announce that Ryan Dumas, Senior Associate at the Fort Myers based firm, recently closed a hotel refinance loan in New Mexico. 

GRP Capital secured a fully amortized, 25-year permanent loan at a lower interest spread. In addition, the loan was closed prior to September 27th which makes the loan eligible for SBA’s 6-month subsidy. As a result, our clients have no payments for the first six months of the loan. 

Dumas noted, “I know these clients very well, as we recently closed another loan for them. The clients submitted documents quickly. GRP Capital worked closely with the lender and was able to demonstrate the clients’ business plan. Our clients had made it through the COVID-19 pandemic. Their hotel is profitable and will continue to be so. I was thrilled that not only would this hotel refinance loan decrease their monthly payments, but they could actually build up more savings during the six months of no payments.” 

Our GRP Capital team specializes in finding the right lender for each project. We save our clients time and money, as we source 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. If you are considering becoming a first-time (or second or third time!) buyer, please contact us, so we can assist you.