We operate in a special niche by offering loans secured with equity from zero or small-balance mortgaged properties run by self-employed owners. These clients often will not qualify for conventional financing due to their self-employed status. We use the accumulated equity in the property to secure our investors’ loans, thereby eliminating the cumbersome credit and income underwriting process. Owners can pull cash out of their properties rather than being at the mercy of the banks.
Shop Commercial Mortgage loves to support our hotel and motel owners in Fort Myers, Naples, Englewood, Venice, Sarasota, Clearwater Beach, Ft. Lauderdale, Ft. Walton Beach, Miami, and all areas in between. Don’t worry about being self-employed even if you are showing losses on your business taxes. We also aren’t going to charge you expensive appraisal fees like the banks that can cost you thousands of dollars with no loan guarantee. All we do at SCM is pull the property title, look at the equity, and review your bank statements. You can get approved in one to two days and get your money typically within 21 days if you have a clear title.
Gold Commercial Motel and Hotel Loan Program
- Loan-to-value (LTV) ratios up to 65%
- Loans from $50K to $5M
- Loans available statewide in Florida
- Self-employment is okay
- Rates 9-12%
- Close in 21 days or less with a clear title
- No appraisals or upfront fees
- No Upfront fees
- Underwriting that makes sense
- LLC closings are fine
- Previous foreclosures or bankruptcies are not an issue
- Business tax losses are not a problem
Shop Commercial Mortgage should be your first call if you own a hotel or motel in Florida and need to access your hard-earned equity for cash. We look forward to serving you and getting you qualified quickly and easily with our loan experience of over 200 cumulative years.