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$3.425M HOTEL CONSTRUCTION LOAN
V3 Lending successfully closed a $3,425,000 Conventional construction loan to build a 55 Room Best Western Hotel in Wills Point, TX. The client approached V3 Lending when multiple lenders declined the loan request due to the property's rural location, short timing, borrower reaching their SBA borrowing limit and lenders tightening their hotel construction guidelines. The client needed to close and fund within 45 days or they would lose a significant portion of their equity due to EB5 complications with one of the equity investors. V³ Lending was able to analyze the transaction, structure the loan, negotiate rate/terms with the lender and close within 40 days.
V3 Lending successfully closed a $3,425,000 Conventional construction loan to build a 55 Room Best Western Hotel in Wills Point, TX. The client approached V3 Lending when multiple lenders declined the loan request due to the property's rural location, short timing, borrower reaching their SBA borrowing limit and lenders tightening their hotel construction guidelines. The client needed to close and fund within 45 days or they would lose a significant portion of their equity due to EB5 complications with one of the equity investors. V³ Lending was able to analyze the transaction, structure the loan, negotiate rate/terms with the lender and close within 40 days.
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PROJECT INFO
$3,425,000
Conventional Loan
Best Western Hotel Construction
Wills Point, TX
PROJECT DETAILS
V3 Lending successfully closed a $3,425,000 Conventional construction loan to build a 55 Room Best Western Hotel in Wills Point, TX. The client approached V3 Lending when multiple lenders declined the loan request due to the property's rural location, short timing, borrower reaching their SBA borrowing limit and lenders tightening their hotel construction guidelines. The client needed to close and fund within 45 days or they would lose a significant portion of their equity due to EB5 complications with one of the equity investors. V³ Lending was able to analyze the transaction, structure the loan, negotiate rate/terms with the lender and close within 40 days.
Closed Transaction
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