Formerly Friendly Inn Hammond, LA Secures SBA Loan With Stay Express Brand

Former Friendly Inn located in Hammond, Louisiana has been able to secure SBA loan with the assistance of SBA approved Stay Express brand.

Hotels usually prefer SBA approved loans instead of traditional bank loans. The reason is that SBA has relatively relaxed requirements compared to banks, they usually require lower down payments and offer longer repayment terms.

However in order to secure SBA loan a hotel has to be a franchisee of a brand that is approved by SBA. Usually SBA approved hotel brands are very demanding, their joining fees and other charges are very high, the PIPs are unreasonable and so on.

For this reason, the arrival of Stay Express on the scene has been like a breath of fresh air. Stay Express is unique in the sense that it is not hugely demanding like other brands. It offers very reasonable terms and conditions. There are reasonable PIPs now for new members for up to 2 years, and then sensible PIPs thereafter.

Stay Express also offers other numerous benefits like low initial cost, low royalty/membership fees, etc. The primary aim of Stay Express is to help its franchisee hotels increase their bottom line, increase their savings and their NOI (Net Operating Income).

Many hotels are joining Stay Express brand because of the above mentioned benefits and because of the fact that it has helped several of its franchisee hotels in securing SBA 504 loans quickly and easily, as in the case of the former Friendly Inn property in Hammond, Louisiana.