Daily News: June 12, 2013

Veritas Provides Term Loan to Limited Service Hotel

Veritas Financial Partners provided a $2.8 million funding solution to a limited service hotel.

Located in the southeast, the hotel features standard amenities and provides banquet and meeting facilities for various events and business functions. In addition, the property is conveniently located near a major interstate and international airport.

Veritas closed the $2.8 million term loan for the hotel to support its change in ownership and brand conversion. The facility assisted the investor group in meeting the deadline to complete the acquisition along with providing the needed liquidity to convert the hotel into a national brand.