Proposed changes to SBA loan limits bring new options
Wednesday | Aug 04, 2010 | Filed in:
Articles | Hotel Capital
Markets
By: Victoria
Burt
Managing Editor of Hotel & Motel Management, Hotel Design, Luxury Hotelier, and The Hotel Times
The Small Business Administration, and specifically its 504 loan program, lends itself to owner-operators in the hotel real-estate business because hoteliers with a small portfolio generally meet the net worth and income guidelines set by the SBA.
New legislation proposed by President Obama and passed by the House of Representatives would raise loan limits and ease requirements for borrowers.
“It really makes a big difference in the limited-service space as you go from economy to mid-scale properties,” said Walker Geyer, managing director of capital markets at Paramount Lodging Advisors. “It also allows buyers to look at properties located in a more expensive geographic area.
“There are a significant number of banks that participate in the SBA 504 program because their exposure is limited to just 50 percent of the total cost of a project. So it’s an attractive bank lending area. And then the SBA also underwrites the loan. So you basically get approval on the loan from both the bank and the SBA,” he added.
Read full article published on HotelWorldNetwork.com on August 02, 2010
Managing Editor of Hotel & Motel Management, Hotel Design, Luxury Hotelier, and The Hotel Times
The Small Business Administration, and specifically its 504 loan program, lends itself to owner-operators in the hotel real-estate business because hoteliers with a small portfolio generally meet the net worth and income guidelines set by the SBA.
New legislation proposed by President Obama and passed by the House of Representatives would raise loan limits and ease requirements for borrowers.
“It really makes a big difference in the limited-service space as you go from economy to mid-scale properties,” said Walker Geyer, managing director of capital markets at Paramount Lodging Advisors. “It also allows buyers to look at properties located in a more expensive geographic area.
“There are a significant number of banks that participate in the SBA 504 program because their exposure is limited to just 50 percent of the total cost of a project. So it’s an attractive bank lending area. And then the SBA also underwrites the loan. So you basically get approval on the loan from both the bank and the SBA,” he added.
Read full article published on HotelWorldNetwork.com on August 02, 2010
Paramount Lodging Advisors sells the Fort Wayne Hotel and Conference Center for conversion to a Senior Living Facility
Wednesday | May 12, 2010 | Filed in:
Press Releases
| Hotel Brokerage
New Era for Hospitality
Tuesday | Apr 20, 2010 | Filed in:
Quotes | Hotel Brokerage
Published in Biznow.com on April 20, 2010(+) Read Full Version
Paramount Lodging Advisors’ Holiday Advocacy: Sharing
Tuesday | Dec 22, 2009 | Filed in:
Press Releases
| Social
Responsibility
Over $300,000 of original art works were donated by an anonymous Paramount principal to Vancouver's local hospitals including Vancouver General (VGH), UBC Hospital, St Paul's Hospital, and Children's Hospital. The art donation will be used to help cheer up these environments – both for patients and for the tireless and dedicated caregivers at these institutions, as well as to help raise funds to support operations as and facilities. Art donated included works by Picasso and other international and local artists.
(+) Read Full Version“Debt and Equity Update”
Thursday | Nov 08, 2007 | Filed in:
Articles
3rd Qtr 2007 Debt & Equity Update published in Hotel Business,
November issue.(+) Read Full
Version
