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Conventional and SBA Hotel Financing

George Smith Partners identified a hotel financier funding acquisition, refinance, and PIP/Renovation in the Western United States. Fixed rates are between 5.50% and 6.25% and floating rates start at Prime + 2% and up, for loan terms up to 7 years, and leverage up to 65% of value. Reserves are required for operating deficits and debt service where needed. SBA financing is available for properties located in California, Idaho, Utah, and Arizona for non-CBD locations for loan amounts up to $12.5 million (504) and $5 million (7a). Rates for the 5-year fixed (504) are 6.5% Floor and floating rates (7a) – P + 275. Leverage is up to 75% of value with 10, 20, or 25 year terms.