LODGING turns the spotlight on several lenders and financial service providers serving the hospitality industry and what hoteliers need to know to identify the right partners. Read about navigating the hotel lending environment in 2022 here.
Editor’s note: The following list is in alphabetical order. All numbers reflect the 2021 calendar year.
PMC Commercial Trust
PMC Commercial Trust is a nationwide direct lender focused on hospitality lending for more than 25 years. PMC offers SBA 7(a) loans from $1 million to $5 million for the acquisition, renovation, and refinancing of hospitality and other business properties. PMC, through its subsidiary, First Western SBLC, has been granted Preferred Lender (PLP) status from the SBA, which allows for a faster turn-around time at the SBA.
- Number of hotel loans serviced in 2021: 196
- Average loan amount in 2021: $2.235 million
- Loan types/services offered: SBA 7(a) loans
- Company contact: Laurie Ivy L.Ivy@pmctrust.com
What is your advice for borrowers today?
“Be prepared to provide your lender with a brief plan for your property along with your loan request and current financial information. When additional information is requested, provide it quickly in an organized manner and explain the timing for any information that you are still working on.”
— Laurie Ivy, Senior Vice President – Lending, PMC Commercial Trust
