A Mortgage Planners commercial broker is the direct link between financing your restaurant or hotel and the lending financial institution. Thanks to our professional experience and our overall knowledge of the commercial mortgage market, we are familiar with the various services offered by financial institutions and are knowledgeable about the services that are best suited to your needs, including the best available financing terms and conditions.
For restaurants, the operator (franchisee or independent) may own, buy or rent the building. Each situation is different and requires a different type of financing. Some financial institutions specialize in franchise financing, while other institutions favour owner occupants and long-term tenants. Lenders will favour restauranteurs with a stable financial situation that is supported by reliable financial statements and someone with management experience.
In the hotel industry, some hotels are franchises while others are independent. Not every financial institution finances hotels and most of them are interested in borrowers that have more than just a hotel. Generally, financing does not exceed 60 to 65% of the economic value determined by an evaluation report drafted by an appraiser that is an industry specialist. The amortization period rarely exceeds 20 years.Save time, energy and money and most importantly, optimize your financing by entrusting your property with a commercial mortgage broker.
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