IRVINGTON, NY – (COMMERCIAL THREAD) – X-Caliber Rural Capital, a subsidiary of Capital X-Caliber and one US Department of Agriculture (USDA) approved lender for rural businesses and economic development projects, today announced the closing of its first transaction, a $ 13.5 million acquisition financing of an upscale, limited-service hotel in North Carolina (NC). Acquisition financing is a 25-year, fixed rate secured loan for businesses and industry under the USDA OneRD Secured loan initiative.
âFor our first transaction as a new business, we were able to take advantage of the unique offerings of the secured business and industry loan program to provide our borrower with an attractive rate and a long-term financing solution that matches its business goals, âJordan said. Blanchard, Executive Director, Co-Founder of X-Caliber Rural Capital. âThe hotel is an important source of employment for the region and is located in the heart of a rural town, surrounded by many local businesses.â
âThe success of small businesses across America depends on access to affordable capital,â said Chris Callahan, President and CEO of X-Caliber Capital. âUnder the Secured Loans for Business and Industry program, borrowers have the opportunity to benefit from better prices and terms than those offered by conventional loans. This, in turn, helps support the success of small businesses, which is essential to the health of rural economies. ”
The 96-room hotel was built in 2019 and is located just minutes from the city’s medical center. The property is also a short drive from Charlotte, NC, and there are 19 restaurants located within a half-mile radius. The hotel has an outdoor swimming pool, a free breakfast area, as well as a fitness and business center.
Under USDA OneRD Guaranteed loan initiative, X-Caliber Rural Capital finances rural businesses and economic development projects under four flagship programs:
USDA loans provide competitive financing options to qualified borrowers. As one of the four programs offered under the OneRD Secured Loans Initiative, the Secured Business and Industry Loans Program focuses on promoting small businesses and creating jobs in communities. rural communities.
About X-Caliber –www.x-calibercap.com
X-Caliber Capital is a nationally recognized direct lender that has built long-term relationships with our clients for 30 years. The X-Caliber team offers extensive experience and knowledge of the financial markets unmatched by its competitors. Executives have provided more than $ 80 billion in capital to the commercial real estate space over the past two decades.
About X-Caliber Rural Capital
X-Caliber Rural Capital is a national, licensed and approved organization US Department of Agriculture lender that finances business and economic development projects in rural areas within the framework of four flagship programs under the OneRD Secured loan initiative. The Company is committed to creating attractive solutions for its borrowers that meet the needs of rural communities across the country.