What a wonderful lifestyle! Have you
dreamed about buying your own B&B in a fabulous destination spot? This is a way
of life and income that many imagine themselves in. The ultimate work from home
set up. Beautiful locations with lots to do will bring customers that pay big
money for a comfortable home like atmosphere in which to enjoy their stay.
Hospitality inns are a wonderful investment that will pay big dividends in
exchange for the diligent work that it takes to properly operate a successful
inn. We understand the intricacies of this business and know how to prepare a
funding package that the lenders will say yes to. Strong lender relationships
with sources that focus on the hospitality industry are a key element of our
success in funding these properties. Our sources appreciate the complete,
professionally prepared submission packages we present to them. They are eager
to make good decisions on these packages and we show them why they should
approve our submissions.
Apply online and get pre-approved
financing bed and breakfast loans.
Do you currently own a bed and breakfast and need loans
for re-financing your commercial property to do improvements like adding more rooms, remodel
the kitchen or just spruce up and add more amenities to
your property? There are niche commercial lenders and investors ready to help bring your dreams
to reality with financing loans for bed and breakfast inns. It's easy to
about your options whether you are looking for hospitality hotel - motel properties
to purchase or presently own a B & B. You can benefit from our professional
advice and numerous industry specific lenders and financial experts.
You may want to refinance your commercial loans for financing
a bed and breakfast property for consolidating debts, improving the real estate
or just getting a better deal. You may want financing to purchase a bed and
breakfast. Loans for purchase are as simple and easy as a re-financing. Either
way, our team will help you design a funding program that is right for you and
your business financial situation. We have professional representatives that have
many years in commercial lending experience.
Don't despair if you've never owned your own
hospitality inn. These programs are available from select lenders if your
credit is reasonable and you can demonstrate an ability to operate the business
successfully. There are many options to explore when attempting to
obtain new commercial loans or re-financing for a new or existing bed and
breakfast property. Factors such as your
experience in the industry as an employee or manager, the size of your current or projected
business and the amount of money needed determines what type of program may be
appropriate for you.
Are you are presently a hospitality
property owner? If you are, you know that bed and breakfast financing loans can
be hard to qualify for if your broker doesn't know and understand your business.
It is also very critical to package your request properly so that the lender
wants to say yes to the request. Banks and commercial lenders decline as many as 90% of these
applications mainly because the proper preparation in packaging the file was not
done. To be approved for financing bed and breakfast loans, most
commercial lenders require you to have some experience in the business and
require you to have assets to secure. This is usually the subject real estate
and is known as
'recourse'. Apply now on line for pre-qualifying
Debt Service Coverage Ratio: The cash flow
from operations must be at least 1.00 to 1.20 times the mortgage payment.
Term: 1, 3, 5, 7, 10, 15, 20 ,25
and 30 year terms are most common. 6 Month ARM are available at low rates. Interest only and balloon notes are available.
Rates of Interest on average:
+ 1.0% to 2.5%
15 and 20 year fixed - submit quick app for rates
5 year fixed
ARM = LIBOR + 1.5% to 2.0%
Call for many more terms available.
Lockout Periods and Prepayment Penalties:
10, 15, 20 year fixed rates - typically have prepayment
based on yield maintenance or defeasance.
3 and 5 yr fixed rate - typically have a decreasing prepayment each year (e.g.3%, 2%, 1%).
Adjustable rate mortgages- typically have a
declining and smaller prepay penalty (e.g. 3%, 2%, 1%).
Pre Payment Privilege: You may always pay
up to 20% of the loan balance each year with no penalty for an accelerated
Recourse: Commercial programs may
or may not require recourse (personally guarantee). Case by case basis.
Borrowers are responsible for all due diligence and
closings costs (e.g. Appraisal, Phase 1 Environmental, site inspection, title,
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