Cetan Funds recently funded a commercial construction loan for a boutique hotel, restaurant and beer garden project in Hood River, Oregon. The investor working on this project purchased an historic building in the heart of Hood River. Previously a popular restaurant which sadly shutdown after a fire, this building is in a prime location next to a city park and city hall. The investor had already begun transforming the property, converting the interior into four rooms for high-end short-term rentals. They have plans to build out a coffee shop, restaurant and beer garden space behind the building as well, taking advantage of the natural landscape and scenery.
At Cetan Funds we were able to offer this investor the experience and flexibility he needed to get the funding to finish the build-out and line-up an SBA 504 loan for his long-term financing solution. With our background in commercial real estate and commercial lending, including economic development and SBA lending, we have already begun collaborating with a Certified Development Company to work on SBA approval as fast as possible. Once SBA financing is secured and our interim loan is repaid, this investor will have the stable long-term financing he needs for this incredible property and business venture.
You can read more about our borrowers and their project in this fantastic article from the Hood River News.
Loan Purpose
Location
Hood River, Hood River County, Oregon
Loan Terms
$1,785,000 at 11.0% interest only on the outstanding balance for 36 months
