Financing available now for Magnuson Hotels affiliates
October 23, 2012
Hotel owners struggling with financing have a friendly new source of capital via Magnuson Hotels, the world’s largest independent hotel group. It is with great pleasure that we announce a hotel lending partnership with Ascentium Capital.
Both independent hotels as well as hotels branded as a Magnuson Hotel, Magnuson Grand Hotel or M Star Hotel will be eligible to qualify for same-day financing in a hotel loan partnership with Ascentium Capital.
Hotels branded with Magnuson Hotels can access up to $250,000 via a one-page application and same-day credit approval. Independent hotels can access up to $150,000. The loans will offer 100% financing from $5,000 and up, and offer 24-72 month terms.
The combination of renovation capital with lower operating costs will rapidly result in higher room rates and net profits.
Ascentium Capital specializes in providing financial solutions to open new avenues for growth and profit for small businesses located nationwide. Ascentium Capital is backed by Vulcan Capital, the private investment group of Paul G. Allen, and a group of investors led by LKCM Capital Group, LLC (“LKCM”), the alternative investment vehicle for Luther King Capital Management.