Aloft Capital is pleased to announce the closing of a refinance loan for a Hotel property in Raleigh, NC.

The Borrower was searching for a loan to refinance their current SBA 7(a) debt. You may know that it can be challenging to refinance an SBA loan, however the borrower was very interested to lower their interest rate from the current 11.25% 7(a) rate. While Hotels are a very challenging asset class to finance right now, we were able to meet their needs by lowering their interest rate by over 3%! (and fixed for 5 years)

This closing took some time to come together, but in the end we closed with a very good lender with very good terms for our client. Oh, did we mention NO prepayment penalty! What a win!