2022 WAS ONE OF THE BEST YEARS ON RECORD FOR HOSPITALITY SALES…AND THE OUTLOOK FOR 2023 AND BEYOND IS BRIGHT! The past several years have been unprecedented…marked by the Pandemic, international unrest and a fluctuating financial market. And for good reason, this has caused some pause for many new buyers considering a transition into the […]
maine hospitality lending
There are no shortage of inn buyers or sellers these days. It’s almost as if the pandemic has placed an opportunity to hit the reset button, giving many a reality check of what’s important. But are the banks lending? That’s the question on everyone’s mind. I closed one inn in February this year. Then Covid
Looking to get into a lodging property before the start of the season but don’t want to carry the mortgage over the winter?
Did you know that some lenders will offer seasonal mortgages, where you make 4-6 large payments through the busy season and no payments in the slow season? We have several banks here in Maine that have hospitality properties in their portfolio and will offer seasonal mortgages. These lenders understand the nuances of tourism in Maine