October Spotlight: Advocating for our Borrowers in the Marketplace

October Spotlight: Advocating for our Borrowers in the Marketplace
by Leslie Wilkins

At GRP Capital, we get to know our clients. They are amazing people: hard-working, creative visionaries who have dreams that need financing.

During our time together, we get a solid sense of their abilities: their talents, their skills, their
financial stability and their capacity to grow and take on new challenges. We have to believe
in our clients, so that we can advocate for them in the marketplace.

Knowing the specific needs of our clients has allowed us to play a part as they set and
achieve entrepreneurial goals, transforming their visions into reality.

The Spring House at Cartersville – Cartersville, GA

We pride ourselves in our ability to spot skilled entrepreneurs whose dreams deserve support
and financing. Our borrowers in this project have had lengthy, successful experience in the
hospitality industry. They were ready to spread their wings and utilize their management
skills to branch out to the assisted living and memory care world.

The Spring House at Cartersville was created from an existing hotel property that was
transformed into an assisted living and memory care facility.

Just because we at GRP see the potential of our clients to be able to switch gears doesn’t
mean that every lender sees the same potential. In fact, this acquisition and conversion was
considered out-of-the-box by most traditional lenders, who can sometimes be risk-averse.
Our lender partners wanted to see experience in the specific senior care market prior to
extending any credit. As a result, we utilized our own GRP Capital Debt Fund, a perfect
resource for atypical loans.

Shail Madhav, Business Development Associate, worked closely with the clients and
counseled them to partner with an experienced management company as they went through
the construction and start-up phases of the business.

Amazingly, this loan closed within 30 days. The construction began immediately and the
clients are already investigating new conversions, now with experience under their belt,
which will enhance their stature for any future potential lenders.

“The clients felt that our services were very unique. GRP Capital conducted a tremendous amount of research. Additionally, GRP Capital created a financial model for the clients that would assist them in presenting their project and future projects. They will be able to see a broad scope of their investment analysis along with a ProForma Report and debt analysis.”

Quality Inn – Rome, GA

This small-business loan backed by the Small Business Administration is emblematic of the
level of services that GRP Capital provides. Lenders and borrowers are eager to obtain SBA
loans, as they offer more accessible funding for expansion.

That doesn’t mean that applying for SBA loans is always easy. SBA loans are accompanied
by a great deal of paperwork combined with a higher level of scrutiny of finances.

GRP Capital knows exactly what SBA documentation will be needed by our quick acting
PLP lenders. Our in-house underwriting process helps determine what issues we could face
further down the road, which could turn into potential roadblocks. We examine operating and
franchise agreements as well as financials to be sure they are not only accurate but also will
pass SBA guidelines.

We helped our clients acquire this Quality Inn through an SBA 7a loan, guiding the process
from financial analysis, through appraisal, underwriting, and closing. The process was quick
and the hotel is thriving, receiving excellent online reviews and meeting their occupancy
targets.

Whether you are expanding your existing portfolio or investing in your first business, GRP Capital has the resources to help you meet your required capital needs. Our services include divisions of Real Estate Capital Markets, Small Business Financing, Construction Lending, GRP Capital Debt Fund, and Consulting and Advisory. Learn more at grpcapital.com.

We are a leader in commercial lending, advising, and investing because we are experienced, connected, and invested. Contact us to start the conversation.