Business Capital Provides Financing for Hotel Franchisee
The client is the ownership of a hotel located in downtown Memphis, a franchise of a leading national and an international hotel chain. This property is located in a fully renovated Art-Deco building that dates back to the 1930’s and is part of the National Historic Registry. It is close to local Memphis attractions and situated on the Main Street Trolley line.
Despite being one of the more recently opened hotels in downtown Memphis, its historic designation, prime location,and membership in a strong chain, the property was facing foreclosure as a result of the drop in the tourism and travel industry caused by the economic downturn. The franchisee owner was in need of a cash infusion to restructure debt, increase liquidity and upgrade the property for potential sale.
Business Capital was brought in as the Company’s Financial Advisor and successfully restructured and recapitalized the franchise. BizCap’s experience and understanding across all industries and deal types, combined with superior credit acumen, allowed the client to achieve their business goals.