resort capital, hotel loan, hotel finance, hotel capital, hotel financing

Services We Offer

Spirides Hospitality Finance Company provides mortgage and loan broker services to owners and prospective owners of all types of hotels and restaurants across the United States, both franchised and independent.  The size of the financing packages we structure and source for any project ranges from $2,000,000 to $200,000,000.  Our nationwide network of lenders have the expertise and the capacity to design and quickly fund any type of hospitality project--large or small--hotel or restaurant. The most popular financing programs that our lenders employ are conventional loans, government guaranteed loans through the SBA or USDA, private money bridge loans, life insurance company loans, and CMBS loans.  We do not charge our clients any upfront fees prior to commencing our work, and our fees are usually 25-50% less than the fees that other finance brokers charge. 

We Arrange Financing For:

  • Ground Up Construction--Want to build a new franchise prototype hotel or restaurant?  We can arrange financing for this.
  • Acquisitions--Want to expand your company's footprint by buying a hotel or restaurant in another state?  We can assist you with financing this. 
  • Renovations--Does your property need a facelift and modernization to meet new brand standards?  We can help you finance this.
  • Equipment/CapEx financing--Need to purchase a new chiller tower, two boilers, a 100 ton HVAC unit, and a walk-in cooler?  We can help you finance these.
  • Refinancing a single asset--Is your mortgage maturing?  Let us find you a new one.
  • Refinancing portfolio loans--Some do this after several years of paying down debt to unlock their equity so they can purchase or develop more hotels or restaurants.  We can arrange this for you.
  • Working Capital--Need some funding to pay your bills during the slow off-season months?  We can help you with this. 
  • Debt Consolidation--We can help you pay off all your existing debt and have one monthly loan payment with a better interest rate going forward.
  • Bridge financing--We arrange short term financing (2-5 years) for hotels to reposition themselves by undergoing renovations/PIPs and/or brand conversions prior to obtaining permanent financing.  This type of financing can also be used for acquisitions, recapitalizations, and construction loan takeouts.
  • Permanent Financing--For existing hotels and restaurants with in place cash flow.  Usually used for acquisitions and refinancing but can be used for other purposes.  Let us lock in a good mortgage interest rate for you for the next 25 years.
  • Mezzanine Financing--Available to fill in the gap between senior debt and equity without giving up any ownership. 
  • Financial Restructuring--We know how to obtain debtor in possession (DIP) financing for hotels and restaurants going through a Chapter 11 reorganization.

We at Spirides Hospitality Finance Company have access to dozens of hospitality industry lenders who offer an assortment of financing programs at very competitive rates.  The rates that are quoted by our lenders are determined by the financial strength, credit quality, and industry experience of the borrower and any guarantors on the loan as well as the market feasibility and valuation of the project.  We are able to obtain for our clients the best financing terms available today subject to these borrower-related factors.

We know that every deal is unique.  With every transaction opportunity that comes across our desk we at Spirides Hospitality Finance Company take the time and make the effort to understand each client’s unique needs and objectives and to research, analyze, and understand each subject hotel or restaurant to ensure that a capital structure is created that is adequately serviceable and is in accordance with the client's strategic goals and objectives.

We review each of our client's requirements for funding, and then we identify which capital sources are most likely to fund their proposed project and hold discussions with each of them to obtain the lowest rates and fees and most favorable terms and conditions possible for our clients.  We stay involved in every step of the process up until the transaction is consummated and funds are disbursed.  We do everything in our power to facilitate and expedite the closing process with each client’s new source or sources of capital.  

We utilize many different lending programs.  Two of the most popular are SBA and USDA government guaranteed loans.

Through our expert knowledge of the loan programs developed by the United States Small Business Administration (SBA) and the United States Department of Agriculture (USDA) we assist hotel owners nationwide to obtain very attractive financing for their businesses.  If you are searching for a long term loan with a 10-30 year term and a 20-25 year fully amortizing payment schedule with up to 85% loan to value/loan to cost and a low, fixed rate of interest for 10-20 years, you should consider the new and improved loans offered through the SBA, as well as the USDA (in rural areas). These loans are available for hotel projects such as new construction, acquisitions, FF&E, PIP/renovations, brand conversions, working capital, and the refinancing of existing debt.  Project sizes for these types of loans range from $2,000,000 up to $30,000,000 and are available for any type and size of hotel or motel—franchised or independent.  The reason these loans are called government guaranteed loans is because if the borrower defaults on this type of loan the federal government will reimburse/pay the lender up to 80% of the amount of any losses of their principal.  This guarantee gives the lender a much better comfort level with and thus a higher probability of approving your loan request than would be the case without such a guarantee.

What are some notable benefits of a government guaranteed loan? 

  • Fixed, low interest rate
  • Long term loan
  • Fully amortizing loan in some cases
  • Up to 80% LTV/LTC financing (20% owner’s equity contribution)
  • Most closing costs and loan fees can be financed into the loan
  • If you ever decide to sell your hotel, your SBA 504 2nd mortgage can be assumed by the buyer
  • Ability to refinance your existing debt and even fund an expansion (through an acquisition, renovation, or construction project) in the same transaction   
  • By utilizing SBA’s new 504 Green Loan Program a single hotelier can obtain multiple SBA 2nd mortgage $5.5 million loans for multiple 504 “green friendly” hotel projects with no limit on the lender’s 1st mortgage; thus, there is no limit on the size of these projects.  In many cases, qualified borrowers with projects exceeding $20 million can still obtain up to 85% financing.  For information on how to become SBA 504 Green Friendly please see the section below titled “How to become SBA 504 Green Friendly.” 
  • By utilizing SBA’s new 504 Green Loan Program there is no limit on the number of SBA 504 green projects allowed to each borrower which means that business owners looking for additional 504 financing may be eligible even if they have committed or outstanding SBA loans.  This means funds for this program are not limited by the SBA’s usual aggregate lending limit of $5 million per borrower, which means business owners who previously reached their SBA maximum now have the ability to receive additional SBA loans.  For information on how to become SBA 504 Green Friendly please see the section below titled “How to become SBA 504 Green Friendly.”  

How can I get a government guaranteed loan?

These loans are offered through approved lenders nationwide with whom we maintain close working relationships.  We will assist you in determining which government guaranteed loan program is best suited for the long term success of your project and will assist you with applying for such a loan with the lender(s) whose underwriting criteria and whose lending profile best aligns with your project.  We will assist you through every step of the process from pre-application discussions through the successful closing and funding of your loan.  Regarding our compensation, most of the time the lenders pay us our finance broker fee, in which case we will not charge our clients any fee to arrange a government guaranteed loan.

What are some notable requirements to obtain a government guaranteed loan? 

  • Government guaranteed loans are “full recourse.”  This means that they require a personal guarantee on the debt by owners who have 20% or more ownership in the company.
  • Past hotel management experience is required to be shown by the owners.
  • The business must be financially healthy, and the owner’s global cash flow (current personal income as well as projected income from the proposed business project and all other businesses owned by the owners) must be adequate to service all debt obligations plus an additional 10-30% capacity.
  • Any loan that is being refinanced by an SBA loan must have at least 24 months of good debt service payment history immediately preceding the loan application.
  • All owners must be U.S. Citizens or be an Alien Resident green card holder
  • Owner(s) should have a tangible net worth less than $15 million and an average net income less than $5.0 million after taxes for the preceding two years. 

How to become SBA 504 “Green Friendly”?

The following green initiatives are eligible for up to $5.5 million per project of SBA 504 2nd mortgage financing provided they reduce energy consumption by at least 10% or generate at least 10% renewable energy. 

Through Energy Reduction – Acquisition or construction of a replacement facility or retrofit of a currently occupied or leased existing facility with energy saving technologies. Examples include installing improved insulation, purchasing a computerized energy management system, purchasing new ENERGY STAR certified electronics, appliances, and equipment such as new high efficiency water heaters, washers and dryers, freezers and refrigerators, dishwashers and cooking equipment, TVs, LED light bulbs and light fixtures, central air conditioning systems and PTAC units, computers and monitors, copiers, swimming pool pumps, elevator electric motors, vending machines, and installing energy efficient windows and sliding glass panel doors.  The most prominent sign a project is energy efficient is for it to become LEED certified using the standards established by the U.S. Green Building Council.

By Using Renewable Energy – Plant, equipment, and process upgrades using renewable energy sources such as solar, wind turbine, and geothermal power employed to operate critical systems.  A common example of a renewable energy project in a hotel is installing a solar powered water heating system.

We know energy efficiency experts who assist hotel owners with designing and certifying their Green Friendly project to qualify for a SBA 504 Green Loan.  Call us today to discuss a applying for a SBA or USDA loan for your project. 


We Broker the Sale of Hotels 

Our Founder and President Harry Spirides is also a Licensed Real Estate Broker.  Real estate brokerage services are provided by our sister company Spirides Hospitality Realty Company, LLC.  By seeking out and introducing prospective buyers Mr. Spirides can assist hotel owners with the sale of their hotels which is the ultimate hotel financial liquidity event.  Please contact us if you are interested in buying or selling a hotel.  Mr. Spirides would be happy to assist you.

Let us start working for you today.  Visit our "Contact Us" web page and submit an online Request For Information Form.  The appropriate person from our company will contact you soon thereafter.  


*All applications for financing are contingent upon the underwriting requirements of the capital source(s) and the credit quality and financial strength of the borrower.