Community Business Finance strives to make our 504 Loan Program faster and easier. Did you know that we have a mobile website that allows our lending partners and clients to get quick estimates for our 504 Loan Program? Our mobile site allows users to get an estimate on a 504 loan via any smart phone from anywhere at any time. This estimate can then be immediately emailed to anyone in .pdf format.
US Hotel rooms under construction are up over 20% from a year ago, according to the STR Pipeline Report, and consumer demand is still increasing. In fact, economy hotels in the planning or construction phase are up a whopping 63%! How can hotels, especially smaller hotels, afford to keep pace with such soaring demand? Since hotel properties are not easily converted to other uses, they are considered special purpose properties by commercial lenders. This designation makes financing harder to acquire.