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| Purpose: |
The acquisition of furniture, fixtures and equipment (FF&E) coupled with minor cosmetic improvements for the development of coupled new hotels or the refurbishment of existing properties. |
| Security: |
First lien on all FF&E financed; personal or corporate guarantees. (If applicable). |
| Lease/Loan Size: |
$50,000 to $10,000,000 |
| Loan to Value: |
Total debt on hotel not to exceed 80% of value. |
| Lease/Loan Term: |
3 - 7 years |
| Debt Coverage: |
1.25x minimum, based on an underwriting NOI.
Projections of future cash flow may be considered in underwriting. |
| Interest Rate: |
To be determined. Negotiable based on financial conditions.(LTV, DCR, Credit) |
| Fees: |
To be determined. |
| Structure(s): |
B. Loans - Fully amortizing
C. Other structures considered |
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