We’re praying for our friends on the East Coast who are already under the effects of Hurricane Florence. As an SBA lender for SBA 504 loans, I’m proud of all the work the agency does for disaster relief loans to small businesses.
If you happen to be a small business impacted by the storm, click here for more information on that. The SBA played a key role after Hurricane Harvey (and many others) in helping small businesses recover.
7(a) Floating Rate Refi’s
The adjustable rate home mortgages of the 2000’s did not end well for many people. A floating rate loan simply should not be attached to a fixed asset when alternatives exist. The same applies if you or those you serve have a floating rate SBA 7(a) loan on commercial real estate. The 7(a) program is a great one but it does not serve the entrepreneur well who owns their business’s real estate.
We are refinancing 7(a) loans for small business owners and changing the growth arc of their future. When we do so, it also frequently includes cash-out for the owner. Our Low LTV (<65%) Conventional Loan is a perfect match for this scenario. Read below for one such story.
Fountainhead exists to support and serve small business owners in leading their companies to growth and creating wealth for them. Please call or email me any time to discuss how I can support you.
It’s a Great Time for the Hotel Industry
We were excited to close this hotel for our new client, the franchisee (Mr. Riggins) of the Hampton Inn in Laurinburg, NC. This $4.5MM total project included the refinancing of a floating-rate SBA 7(a) into our fixed-rate conventional loan product, as well as over $500,000 in cash-out for our borrower.
This is our fourth Hampton Inn we’ve financed in the last 18 months. Our team knows the hotel space and is ready to propel hoteliers forward in growing their businesses.
The Lodging Conference – Deal Connect
If you happen to be attending the Lodging Conference in September at the Arizona Biltmore in Phoenix, AZ from September 24-27, 2018. please make an appointment to meet with the Fountainhead team during the Deal Connect session on Tuesday, September 25, 2018 starting at 2:00 PM. We hope to see you there.