Hotel owners who shy away from alternative financing options, and continue to make their local bank the first or only stop on their financing search, may be shortchanging their ability to fund future projects using third-party capital. Most bank loans require the borrower to have a deep deposit relationship with their institution and usually require borrowers to provide personal guaranties, otherwise known as recourse. If the property fails, your personal assets are on the hook to satisfy the loan.
CUSHMAN & WAKEFIELD
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Cushman & Wakefield Minneapolis-St. Paul
3500 W. American Blvd, Suite 200
Bloomington, MN 55431
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