Hotel Motel Bed & Breakfast Financing Options

SBA 504 Loan Program (up to $3,000,000)

We offer financing for individuals and small businesses who need to borrow to fund owner-occupied real estate projects such as bed & breakfast, country inns and owner operated establishments. With a minimum of 10% down, you could borrow up to $3 million. In addition of offering excellent rates, as a non bank direct lender, you could even be guaranteed a loan within 5 business days.

Use of Funds

Funds may be used for purchasing, building, and renovating real estate, of which the majority of space is owner-occupied. This loan may also be combined with equipment purchases.

Loan Structure

50% first mortgage: We provide up to $2,000,000

40% SBA 504 second mortgage: SBA/CDC provides up to $1,000,000.00.

10% minimum down payment.

Bridge financing available for full loan amount.

Terms/Rates

First Mortgage: Customized terms

Up to 20 years, fully amortized, fixed rates

Up to 15-year maturity with up to 30-year amortization and fixed rates

Up to 30 years, fully amortized, with variable rates

Second Mortgage:20 years, fully amortized, with a fixed rate. Determined at SBA-guaranteed 504 debenture sale

First and second mortgages are assumable.

Fees

First mortgage: Competitive fees.

Second mortgage: 2-7/8% plus legal review fee.

Additional fees may be applicable on construction and bridge loans.