$3,350,000 Hotel Refinance & PIP Loan Closed

513 Capital, a Cincinnati based finance intermediary, is pleased to announce the closing of a $3.35MM hotel refinance and PIP loan for a Beavercreek, Ohio located Country Inn and Suites.  The loan supported a $2,850,000 refinance along with $500,000 in Property Improvement Plan (PIP) capital. Hotel upgrades are planned to start right away.

513 Capital was able to arrange the financing using the SBA 7a program which due to the stimulus bill, featured a waived guarantee fee and payment relief.  The loan facility is a 25 year fully amortizing structure with limited prepay penalties.

513 Capital specializes in bank, SBA, and private commercial real estate funding.

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