MOtel looking for 250k at bank rates
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  1. #1
    Senior Member Reputation points: 47257
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    Apr 2013
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    Basalt CO
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    867

    MOtel looking for 250k at bank rates

    Hi,
    Submitted to Funding Circle (too expensive for the merchant) and then Dealstruck (shocking, they declined it).

    Anyone else i am missing, large deal, low rates (7%-20% term loan)?

    Thanks for any input.

  2. #2
    Senior Member Reputation points: 7360
    Join Date
    Aug 2015
    Location
    Boulder, CO
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    Skideeppow- I am a direct lender and my (internal) rates are too expensive for your client.

    BUT...If the Motel Owner has sufficient LTV in his property, I have done a number of deals like this through a colleague of mine that are in the interest rate range he is seeking. (Typically 6% - 12% depending upon term and specifics of the deal).

    Feel free to reach out if there is interest.

    Best,

    Dan Page
    dan@fundingstrategypartners.com
    Direct: (303) 938-8280

  3. #3
    Senior Member Reputation points: 16709
    Join Date
    Jul 2014
    Location
    Jackson Hole Wy
    Posts
    730

    celtic bank for bank rates

    If he uses the real estate for collateral there are a number of sources for 6-8%

    bzuniga@omegafund.com

  4. #4
    Banned Reputation points: 10
    Join Date
    Apr 2015
    Posts
    20

    I can do the deal in are hedge fund product rates from 10 to 18% 3 to 5 years monthly payments give me a call any time 843-796-4039

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