Hotel Construction Loans Now Available!!

I just got done sending out a press release on a construction loan program for hotel construction loans. The pricing isn't cheap but the money is there and available. 9% interest, 60 month loan, no prepay, post construction ramp ups, interest reserves. The bummer is the 8 points to close but that being said, it is still doable for most borrowers. If they want a hotel construction loan, this is about it. In the end, it is expensive but not as expensive as a partner! Plus, who wants to a partner meddling with their project anyway! This is what the press release said:

www.free-press-release.com/news-hotel-construction-loans-now-available-4-or-5-star-only-10-mm-1250549937.html'

Hotel Construction Loans Now Available – 4 or 5 Star Only, $10+mm
Segway Funding, Inc. is pleased to make available to its clients Hotel Construction Financing for both 4 and 5 star hotels. The hotel must have a major flag behind it (i.e. Marriot, Hyatt, etc.) and the loan amount needs to be above $10 million.
The loan pricing is expensive but appropriate in this lending environment. The Hotel loans are for up to five years (60 months) and are interest only with no prepay penalty. Interest rates will typically be set at 9% and loan origination fees will be 8 points – all of which are included in the loan amount. An initial period of interest reserves following construction is also provided. A partially developed hotel is okay as well.
We are anxious to hear about your hotel project. Please contact Charlie Crump at Segway Funding, Inc to discuss your loan. Phone: 801-273-7700 Email: ccrump@segwayfunding.com
Segway Funding, Inc. is a mortgage bank based out of Salt Lake City, Utah. We specialize in commercial lending utilizing non-conventional lending sources. For additional information please visit www.segwayfunding.com

I hope that I can get some clients hotel financing soon. please call me.

Charlie Crump
Segway Funding, Inc.