Scope of Work:
Joel Hiser a Hotel Broker: Just secured a commercial real estate loan for $2,175,000
Description of Project:
Joel Hiser, a Hotel Broker & Loan specialist with HTLHA, recently secured $2,175,000 SBA loan for the purchaser of the 100 room, limited service, La Hacienda Inn located at 4914 San Bernardo Avenue, Laredo, TX. Due to the age of the asset, it was a challenge to secure a loan which met the specific requirements of the borrower. HTL was able to identify a Los Angeles based Bank with branches in Houston and Dallas that was willing to address all the borrower’s issues. In completing the loan placement, HTL was able to work with the lender to structure loan terms that allowed for the borrower to secure purchase money financing in excess of 80% of the acquisition price. The term of the 7a SBA loan was 25-years. HTL was paid directly by the lending source and thus, the borrowing entity was not responsible for payment of any commission charges.