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09-25-2019, 04:41 PM #1
Hotel Seeks $25-40K To Complete Renovations
1st thing to understand: Hotel has not rented rooms this month.
10 months in business
Was operating with partial cash going directly towards renovations, not even deposited into the bank account.
ADR report shows $46K/mo easy prior to September.
This is off about 45 rooms. Hotel has 80 rooms total.
Bank statements show $31K/mo over last 2 months.
Credit is in mid to high 700s.
Merchant plans to reopen in exactly 10 days but would like funding immediately in order to operate all 80 rooms instead of just 45 currently usable.
If you believe you are able to fund this deal even on a starter offer with deferred payments, then let me know ASAP. HOWEVER, since it's clear there will be an automatic add-on within less than 60 days after funding, I wouldn't entertain funding companies that bang you on renewal commissions.
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09-25-2019, 05:11 PM #2
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We can do it, call me 212-222-9514 sam@greenfundny.com
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09-25-2019, 05:26 PM #3
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09-25-2019, 05:26 PM #4
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09-25-2019, 06:40 PM #5
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09-26-2019, 11:11 AM #6
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09-25-2019, 07:14 PM #7
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This may be a credit card (unsecured loc) play.
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09-25-2019, 08:19 PM #8
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Red Fox Capital might like the deal and fund swiftly after title. Other BANKS FOCUS on Real Estate (United Midwest up to 2.5M very competitive on Hotels/Pacific Western Bank likes Bed and Breakfasts etc.).
Likely play so late in the game is an advance- then find the right partner. Kind of what we do.
Reach out to Jared, our Partnership Director, for assistance on Bank deals if your focus is more on immediate working Capital transactions.
Jared@bccusa.com or mobile 435-513-9010
RG
Business Capital Consultants USA
3237 Route 112 Suite 9
Medford, NY 11763
Office- 631-880-7501
www.bccusa.com
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09-26-2019, 11:43 AM #9
Is it a flagged hotel? does he have any debt on the real estate? what state?
Call me.Jerry Starr
Insource Funding
433 Plaza Real,
Boca Raton, Fl 33432
P: 800-805-3391 Fx: 561-270-6895
insourcefunding.net
WHAT WOULD YOU DO " IF " YOU HAD THE CAPITAL
◆ 50% LTV - No Fico Required
◆ 90% CLTV on Purchases
◆ Investment Residential / Commercial Properties
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09-27-2019, 12:27 PM #10
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