Best Western Plus Hotel in Austin, TX

AVANA Companies recently partnered with a hospitality group to refinance a Best Western Plus hotel in Austin, Texas. Through the SBA 504 program, AVANA Bank provided a $3,544,500 first mortgage as part of a $7,089,000 total transaction, delivering long-term fixed-rate financing that preserved working capital and eliminated balloon payment risk for the borrower. Through AVANA CUSO, a participating credit union gained access to a fully underwritten hospitality asset in one of the strongest commercial real estate markets in the country.