Best Western Plus Hotel in Austin, TX

AVANA Bank and Copper State Credit Union partnered through the SBA 504 program to refinance a Best Western Plus hotel in Austin, Texas. Together they provided a $3,500,000 first mortgage as part of a $6,997,000 total transaction, delivering long-term fixed-rate financing that eliminated balloon payment risk and preserved working capital for the borrower. Through AVANA CUSO, Copper State Credit Union participated in a fully underwritten hospitality asset in one of the country’s most active commercial real estate markets — a strong addition to their portfolio and a demonstration of what credit union and CUSO collaboration can achieve.