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HOTEL LOAN SUBMISSION

Document Transmittal/Checklist Form

Typical documents to be submitted to obtain a Letter of Interest (i.e. a loan quote with amount, terms & conditions):

  1. A summary or outline of pertinent information describing:
  • the amount of the loan requested;
  • the collateral (i.e. number & type of rooms, amenities, size of meeting space, age of facility, building size, land area, parking spaces and present condition of the plant);
  • the borrower(s) or borrowing entity (name, address, phone & fax #);
  • the purpose of the financing (e.g. acquisition, refinance, renovation, etc.).
  • Will the borrower guarantee or provide guarantors for the loan?

     2. Financial Information:

  • if a recourse loan, a personal financial statement for the borrower(s) and/or guarantor(s);
  • historical operating information for the previous three calender years;
  • a "trailing-12 month" statement (using a month-by-month format for the last 12 available months) – [the statement submitted for each period should clearly itemize the exact amounts spent in the categories of Management Fees, Franchise Fees and FF&E expenditures or a separate schedule should be included. The borrower should certify the statements].

(NOTE: if possible, include a diskette with these statements in an Excel or Lotus format).

    3.  List of sources and uses of the loan
         proceeds.

    4.  Color photos (& aerial photo, if available):
         It would be best to see shots of each exterior
         elevation, including signage and significant
         interior shots.

  1. Salient exhibits, if available.
  • a purchase contract, if an acquisition;
  • a chart of monthly occupancy % and ADR trends over the last 36 months;
  • a copy of the latest appraisal;
  • an environmental report;
  • an engineering report;
  • a site plan and location maps;
  • resumes of borrower(s) and management company;
  • demographic information;
  • a competitive property analysis;
  • property brochures.  

    6.  Franchise affiliation information:

  • name of the franchisor;
  • the origination and termination dates of the agreement;
  • a summary of the fees due the franchisor;
  • a copy of the most recent performance inspection report;
  • a copy of the any Property Improvement Plans required by the franchisor.

    7.  Description of the business plan, if the
         request includes funds for capital
         improvements:

  • a description of the borrowers plans to remodel or renovate the collateral property including a list of proposed capital improvements and those made over the previous two years.

Additional Documents to be submitted with a Loan Application:

  1. an update of the Income and Expense Statements submitted with the request for a Letter of Interest;
  2. tax returns for previous three years for both: a) the project; and b) the borrower, if recourse;
  3. the remaining documents itemized above but not submitted described in Salient Exhibits -Section 5;
  4. a check and additional information requested in the Letter of Interest.