[Fundyman]

LaQuinta Inn acquisition for $2.6MM
Buyer has 10% down. Max 15%.
Credit is 800+
Location: New Mexico

SBA needs 2 yrs time in business; this is new business venture.
Can anyone do it?

[Iannad]

I can likely help with this. What is the address of the property / or even better do you know what the property is worth?

[Fundyman]

I can likely help with this. What is the address of the property / or even better do you know what the property is worth?

Property is worth $2.9MM.

[CritonCapital]

Are you saying the hotel has not been operating for 2 years, or our sponsoring entity? If the hotel has been in business for some years, we can absolutely present this as an SBA loan.
No points charged, nothing upfront.

[Fundyman]

Are you saying the hotel has not been operating for 2 years, or our sponsoring entity? If the hotel has been in business for some years, we can absolutely present this as an SBA loan.
No points charged, nothing upfront.

This is an acquisition. You won't be able to do this as an SBA because the buyer isn't an operating business entity; it's a regular individual who is transitioning into business ownership.

[ThomasEdward]

Sorry, cannot offer hard money loan.