GRP Capital is proud to announce another loan closing, taking advantage of historically low interest rates. Senior Associate Ryan Dumas and his team worked with the borrower and the lender to refinance this independent hotel. The borrower was able to refinance a higher interest existing loan. In addition, our client obtained funding in order to embark on some needed renovation.
Our client previously had a higher interest private loan that she was ready to refinance. Her new 25 year permanent loan product provided manageable, stable financing with sustainable payments for the life of the loan. Refinancing allowed our client to decrease her monthly mortgage payments. Even better, our client immediately utilized the project improvement plan (PIP) monies to complete deferred maintenance and updated furnishings.
Independent hotels can still receive financing in these uncertain teams, even in California. Our job at GRP Capital is to advocate for our clients. We work to demonstrate the strong management skills of the property owner (or management team). In addition, we partner with our clients to organize their files in order to emphasize the true profit potential of their business. We understand that each property is unique and we pride ourselves in getting to know our clients, their enterprises, and their distinct financing needs. Finding the right loan product and the appropriate lender requires research on our part. That research entails learning about our clients as entrepreneurs. As a result, we secure options for them that will best serve their business needs for growth, stability or even liquidity.
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. If you are considering becoming a first-time (or second or third time!) buyer, we can assist you.