What began as an SBA only loan operation for the hospitality industry has developed into a full complement of financing options for hotel and motel owners. We still offer SBA 7(a) and SBA 504, but if an SBA loan is not right for you, we can still help. Our network of affiliate lenders gives us the ability for the following:
SBA 7(a)
This is still the best option for independent and economy chain hotel buyers. Up to $5,000,000 at 80% loan to value, 25 year amortization with no balloon payment. Loan closing within 45 to 60 days.
SBA 504
For strong branded properties (such as Marriott, Hilton, Hyatt, IHG and LaQuinta) with stabilized cash flow. From $4,000,000 to $15,000,000 for purchases and refi’s. 80% Loan to value and competitive fixed rates.
Non-Recourse 5 or 10 Year Fixed Rate Loans
From $4,000,000 to $25,000,000+ for major brand hotels (Marriott, Hilton, IHG, Hyatt) at a 65-70% loan to value. Rates as low as 6.5% based on current rates for properties with stabilized cash flow (SOFR + 5.5% for properties with non-stabilized cash flow). Loan origination fee of 1.5% for stabilized and 2.5% for non-stabilized.
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The Bank of Edison does not lend in the following states – Arizona, California, Hawaii, Nevada, North Dakota, South Dakota or Vermont