The right approach to refinance your hotel loans will provide you with the best options for your financial needs. Understanding the criteria used by lenders is essential to ensure the best possible results. Keep in mind a few key points when planning to refinance loans in the hospitality industry.
Timing Is Critical
Taking a good look at the terms of your loan and assessing the best time to refinance is essential to protect the financial health of your company.
- Checking to see if commercial interest rates are increasing or decreasing can determine the right timing for your refinance application.
- If you have a balloon payment scheduled for your current hotel financing arrangement, be sure to leave adequate time before this payment is due. This can ensure that your refinancing options and loan is in place before this payment comes due.
Making sure the timing is right for your application will help you achieve the most favorable terms for your refinancing arrangement.
Check the Terms Carefully
A hotel loan is a long-term financial arrangement. Making sure that all the terms are manageable and that they suit your needs is critical to your ongoing financial stability. Working with an established lending company is the best way to find the right hotel loans. Your loan advisor has the experience and knowledge to help you determine refinancing arrangements that best fit for your needs and current financial situation.
Stonehill is a direct hospitality lender with a proven track record for delivering the right hotel loans for our customers. We offer hotel lending solutions that include mezzanine loans, bridge loans, preferred equity and permanent loans ideal for your company’s specific needs. Call us today at 713-666-2544 to schedule a consultation with us. We look forward to the opportunity to serve you.