The BizBuySell Small Business Community

  • Get Expert Advice

  •  • Find Local Service Professionals

  •  • Share Your Experiences

I am looking to buy a current hotel, but I do not have the money, the sell price is $1,300,00.00. Does anyone

The hotel in NC I am looking to buy is for sell for 1,300,000.00. However, I know there are a few upgrades that need to be done, so I need to borrow more than the asking price. Anyone have any suggestions as to what type of loan I would need to apply for? Thanks in advance.

No User Photo

Answer This Question

max 5000 characters

Web Reference (optional)

e.g., ""

Review Community Guidelines

Help keep our Community clean and on topic. The BizBuySell Community is a place where you can discuss your questions, concerns and knowledge with others you can trust. It is not OK to use this forum to solicit others for personal or financial gain, or to rant about personal issues. It's all in the guidelines.

Submit Your Answer
Answers (4)
No User Photo

We are financial consultants to a group of investors whom we have their consent to manage their funds which is in our custody for cooperation in joint venture business investments.

Our areas of interest include Property Development and real estate, Health Care, Education and training, Mining and exploration, Energy, oil and gas,Technology, Software development, Agriculture, Manufacturing, Finance Services and Leisure.However, all viable proposals within reason will be considered.

Funds shall be made available to you as a direct investment loan at 3% interest rate per annual for a period of 2 or 30 years depending on what you prefer. You may contact us if you have interesting investment proposal for possible business collaboration for our study.

We look forward to your reply to enable us provide you with details or you may visit our website.

Kindly acknowledge receipt of email.

Thank you.

Yours Sincerely
Jesse Peterson
phone: (980) 239-7539

Jul 4, 2017
No User Photo

The best SBA lender I know of for business acquistions (bizac) is Tom Meyer at Bridgeview Bank.
His number is (224) 543-4047

May 16, 2013
No User Photo

Thanks Don. I appreciate the information. I will check out the site.

May 14, 2013
No User Photo
The BAF Group LLC

An SBA-504 is the best to use. The SBA does not LEND money, but it works with banks that make such loans and guarantees the loans for the protection of the bank. Banks notoriously take NO risk, so getting a loan without SBA involvement is practically impossible.

Even with SBA involvement, many banks do not do Motel loans, so you may have to shop your deal to a number of them, until you find one that is willing. You may want to check out our blog, which has a number of posts, including this one on obtaining loans for business acquisiitons:

If you have questions or if you need more direction, call me: Don Barrick at 410-715-0700

May 14, 2013

Start a Discussion