SBA's 504 expiration likely to affect hotel industry, experts say

09/28/2012 |

Hoteliers lost a popular source of financing Thursday with the expiration of the SBA's 504 Jobs Act Refinancing program, several experts say. "Undoubtedly, the expiration of the SBA 504 program will negatively impact the market as it removes a segment of liquidity that has been instrumental to hotel owners who are seeking to protect their assets. ... The elimination of the program will likely result in additional loan defaults and potentially foreclosures," said Angelo Stambules, a senior vice president at Hunter Hotels.

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