Despite a booming lodging industry, financing for purchase, construction and improvement plans still can be hard to find for hotel owners. U.S. Small Business Administration 504 loans can bridge the gap with low interest rates and as little as 15 percent down. Learn more about SBA 504 hotel loans.
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I am investor and have a flag hotel renovation/purchase project. The hotel required complete rehab to meet holiday Inn franchise standards to keep the flag. Complete renovation of all 160 rooms, restaurant,Bar ,Lobby and 10,000 sq.ft. meeting room. Upgrade electric,plumbing , painting,flooring,cieling and some walls.I have china suppliers contacts and will order 42 inch TVs and light fixtures,supplies for the restaurant,bar also will created an account with home depot.and spin-off and create an Import/Export Company to offer products and items in the rehab.10,000 meeting room.
My proposal is to request a loan of the price tag on the hotel which is 3.7 million. And request 1.1 million to completely renovated the hotel