Irvine, CA, August 12, 2011 --(PR.com
)-- Scientific Capital Group arranges a 1.7 MM SBA 7a loan for the acquisition of the Sleep Inn in Walterboro, South Carolina. The project was financed through an FDIC lender at 70% Loan to Value.
A good news for those with an existing 7(a) loan or those who are planning to finance their hotels through this program is that the Fed announced yesterday that it will keep the rates low until mid-2013. This means that the PRIME index on which the 7(a) loans are pegged will not go over 3.25% over the next two years. However, the SBA's 2011 fiscal year's budget is nearly exhausted and hopefully the Continued Resolutions will maintain the required SBA funds starting October 1st until the Congress approves the 2012 SBA budget.
Scientific Capital Group, Inc. (www.scicap.com) is a hotel financing advisory and brokerage company established in 2003 in Irvine, California offering services throughout the 50 states. For more information, please contact Ramin Mostaan at (949) 477-5000 or email him at email@example.com.