The Best Western Grand Venice Hotel is located in Hagerstown, MD, just outside of Washington, DC. It is a destination for families and business travelers. Under the ownership of Nithin Jayadeva and his brother, this property has thrived. All of the guest rooms have been renovated, retail shops added, a new pool built, and the catering and wedding business expanded.
How did MultiFunding help Best Western?
The brothers purchased this property in 2004. The term of the note expired; they needed to refinance the loan. They were rejected by several lenders (SBA and conventional) because of their industry. MultiFunding helped them compile their financial documents, and provided counsel on a few issues that created challenges to previous lenders. Through our network of lenders, we were able to secure an SBA loan.