No matter what class of hospitality facility, PriBank can provide financing from 4 star full service franchise hotels to independent economy lodging.

 

General Guidelines

Geographic Coverage:   Nationwide

Property Type:  Flag & Non-Flagged Hotel, Motel, Resort & Lodges 

Loan Size:    Maximum SBA Financing: $8,500,000

                   Maximum Conventional Loan:  $10,000,000

                   Maximum Conduit Loan:   Open

                   Minimum Loan Size: $1,000,000

Loan Types:   Conventional, Conduit, Construction & SBA

Terms:  5-25 years on Fixed Rates

Rates:  Go to Pricing  

Purchase/ Refinance or Construction/ Permanent Financing:

Maximum 1st mortgage:  75%

Maximum 1st + 2nd (SBA): 80%

Loan Amortization:  25 years

Liability:  Non-recourse & recourse to borrower depending on loan program

Lender Costs:  $10,000 and up for 3rd party reports

Prepayment: Declining balance, Fixed term or yield maintenance

Closing Process:  Typically 45 to 60 days from receipt of a complete application

Assumability:  Yes