Board Topic: Banquet Facility Loan
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Banquet Facility Loan

Posted by: NFSVCS Dec 15 2004, 05:49 PM
Iam looking for lenders doing Bed & Breakfast / Banquet Facility loans. LTV is 60%. wants to cash out also. Loan amt is 3.3m. In Sacramento, CA

Posted by: Commercial Lender Dec 15 2004, 09:43 PM
Is it a bed/Breakfast OR a Banquet facility (They are different tiers bw)?

Posted by: NFSVCS Dec 15 2004, 10:43 PM
QUOTE (Commercial Lender @ Dec 15 2004, 09:43 PM)
Is it a bed/Breakfast OR a Banquet facility (They are different tiers bw)?

It is a banquet facility, specialising in weddings

Posted by: loanuniverse Dec 16 2004, 01:21 PM
This would probably be another owner occupied real estate deal where the cash flow from operations {the rent of the space for parties and meetings} would be the source of repayment. Being that this is a “special purpose property” that is the improvement will probably only be good for a similar type of business might affect the amount that you can borrow against it. However, a 60% ltv should be doable for most lenders.

Posted by: Commercial Lender Dec 16 2004, 02:27 PM
yep! As long as the owner quarters is on site, we can take care of you on this one. Give me a buzz or email me and i will let you know what we need to get started and get this done quickly! Thanks, Naj
email

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