Hotel Capital Funding Announces $15.075 Million Funding For The Construction Of A 144 Room Hotel

NEWPORT BEACH, Calif. - May 9, 2016 - PRLog -- Vijay Naik, of Hotel Capital Funding, has announced the recent closing of a $15,075,000 loan for the construction of a Best Western Premier hotel at the Denver International Airport in the City of Denver, CO. The 144-room hotel was structured as an SBA 504 loan, with their lending partners providing a $10,200,000 first mortgage loan, and a $4,875,000 interim second mortgage loan. The loan will convert to long-term permanent financing upon completion of the construction.

"Since its inception about 7 years ago, the Best Western construction project had been rejected several banks and was considered highly perplexed for most lenders," stated Vijay Naik, President and CEO of Hotel Capital Funding. "They had never seen anything like it and were not equipped to handle such complexities. Fortunately, with our ability and expertise to structure the loan correctly with our lending partners, we were able to provide our client the financing required for the construction of this project," Vijay added.

Hotel Capital Funding

Vijay has over 20 years' experience providing nationwide debt for the Hospitality Industry. As President and CEO of Hotel Capital Funding, Vijay is responsible for the origination of fixed and floating rate, non-recourse hospitality real estate loans throughout the United States and Canada. Before founding Hotel Capital Funding, Vijay was one of the top Hospitality debt originators for both conventional and SBA financing for The Business Lenders (financed by Merrill Lynch), Business Loan Express New York and Temecula Valley Bank CA. Vijay also served as a Hotel Broker for American Hotel Motel Brokers and National Hotel Brokers in California.

For more information, call Vijay Naik, at 949-439-1423 or visit: https://www.hotelcapitalfunding.com.