$5,000,000 Conventional Hotel Loan Closed

513 Capital, a Cincinnati-based finance intermediary, is pleased to announce the closing of a $5MM Conventional Hotel loan.

The owners of a Country Inn in Harrisburg, PA had a floating rate SBA 7a loan they wished to replace. The existing loan was used to acquire the property but had an interest rate of over 10%. 513 Capital found a Regional Credit Union interested in refinancing the property at much-improved terms.

The loan is three 5 year terms on a 25-year schedule at a fixed rate of 7.25%.

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

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