LUDINGTON, MICH.—Cohen Financial has secured a $1.8 million refinance of the Ramada Inn and Conference Center in Ludington, Mich. Cathy Bronkema, partner and executive vice president of Cohen Financial in the Grand Rapids office, secured the financing for the 111-room property.
Colliers International West Michigan office providing refinancing services to the borrower, a local commercial real estate owner and investor.
Bronkema arranged the fixed-rate, 25-year term SBA loan with a regional bank.
“For hotel financing, an SBA loan continues to be a viable lending source to maximize a borrower’s proceeds in the current lending environment,” said Bronkema.
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