SBA Loan for Hotel

vimalbavavimalbava Posts: 1subscriber
edited April 2007 in Startup Funding
I would like to know the chances of getting a SBA loan for a hotel.  I have a fico of 730.  I am a minority (asian indian).  I am looking to buy a hotel that is brand new with 40 units, and after doing some proformas, I expect to have to revenues of approximately $300,000 the first year (I used industry averages and local market conditions/averages to compute the figures).  I am looking for a loan size of about $700,000 - $900,000.  I have about $150,000 to put down.  Could you guys please give me some feedback on the chances of getting financed through SBA loans and any other suggestions?  Thank You.
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