[CRElender]

Hotel Financing can be very difficult under the current economic conditions.

Enterprise Bank, a top ten national SBA lender, is back taking hotel applications with the below parameters.

We are a direct, bank SBA lender. Unlike non-bank SBA lenders, we have much more flexibility with pricing and being able to close quickly. Our pricing for these hotel loans will range between WSJ + 1.0 to 1.75%. Compare to non-bank lenders that many times charge WSJ + 2.75%.



The loan amount must be ≤ $5MM, no exceptions
DCR must be 1.25 or higher for the last fiscal year-end and interim period
7(a) only, (No 504 loans)
Flagged properties only
No ground-up or projection based deals

[Bcooper]

I can work with non-flagged hotels and ticket sizes into the several hundred million range with ease feel free to reach out if you have larger transactions.

[Olderguy]

Don't mean to hijack a thread...but flagged, over $5M reach out....have one $6.4M at 5.9% fixed for 10 years, amortized 20 (should close in a few weekd) and working on getting $10M hotel LOI now....just have to work on some seasoning issues.

[Bcooper]

Don't mean to hijack a thread...but flagged, over $5M reach out....have one $6.4M at 5.9% fixed for 10 years, amortized 20 (should close in a few weekd) and working on getting $10M hotel LOI now....just have to work on some seasoning issues.

if your lender keeps giving you grief over seasoning feel free to reach out steve got a few lenders who don't care as long as the credit hook is good.

[Olderguy]

if your lender keeps giving you grief over seasoning feel free to reach out steve got a few lenders who don't care as long as the credit hook is good.

5.9% 10 years fixed amortized 20?

My guy does credit enhancement and can get the rate down to the 4% range.

thanks...I got it...

[CRElender]

Don't mean to hijack a thread...but flagged, over $5M reach out....have one $6.4M at 5.9% fixed for 10 years, amortized 20 (should close in a few weekd) and working on getting $10M hotel LOI now....just have to work on some seasoning issues.

Did this deal close? The terms seem unbelievable considering 5 yr Treas are at 4.7%.

[Olderguy]

Did this deal close? The terms seem unbelievable considering 5 yr Treas are at 4.7%.

Still in process. There was a delay and they needed a new signed committment letter.

BTW - I have a lender now that can do 90% LTC and all they do is put a UCC on the 10% clients funds which client can hold.

[FundNonPrime]

4.99% 20 year fixed, $20M min loan amount, client needs 20% fresh capital into the deal, bond fund takes 50% ownership of the asset with buyout clause, no office space accepted