Transaction Overview - Baymont Inn Purchase
He also needed working capital to help ramp up operations and he only had a 638 credit score. Needless to say, this borrower could not find financing anywhere, until...he found South End Capital. We provided the borrower 90% purchase financing, we financed all the closing costs and gave him an additional $85,000 in working capital. The borrower received a 6.25% rate, amortized over 25 years and the keys to his first hotel!SBA Unrestricted Program SECC offers an aggressive SBA loan program priced at a maximum annual interest rate of 6.25%, amortized over 10 years (25 years, if the business has available real estate collateral). The program features one affordable monthly payment and often no prepayment penalty. SECC can consolidate a business owner’s expensive merchant cash advances or business debt, remedy stifling business issues, provide expansion or purchase funds and offer unrestricted working capital to assist with new growth and other business needs. SECC imposes few business-type restrictions, will consider borrower credit down to 580 (or lower), can work with past borrower bankruptcies or foreclosures, and will fund from $250,000 to $5,000,000 in all 50 states. We only need one year of tax returns to qualify a business and we'll even consider startups.
Closing Highlights:
Flagged
Hotel Michigian
- 90% purchase financing
- Working capital provided
- 6.25% rate, 25 yr. term
- Monthly payment
- 638 borrower credit score
- Nationwide
- Financing from $250K to $5MM
- Low credit score minimum
- Most industries considered
- No collateral required
- Broker rebate available
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(413) 478-5379 (Cell)
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