Irvington, NY – November 3, 2021 – X-Caliber Rural Capital, a subsidiary of X-Caliber Capital and a U.S. Department of Agriculture (USDA) licensed lender for rural business and economic development projects, today announced the closing of its first transaction, a $13.5MM acquisition financing of an upscale, limited-service hotel in North Carolina (NC). The acquisition financing is a 25-year, fixed-rate, Business and Industry guaranteed-loan under the USDA’s OneRD Guaranteed Loan Initiative.
“For our first transaction as a new company, we were able to leverage the unique offerings of the Business and Industry Guaranteed Loan Program to provide our borrower with an attractive rate and a long-term financing solution that matches his business goals,” said Jordan Blanchard, Executive Manager, Co-Founder of X-Caliber Rural Capital. “The hotel is an important source of employment for the area and is located in the heart of a rural town, surrounded by many local businesses.”
“The success of small business across America depends on access to affordable capital,” said XCaliber Capital President, Chris Callahan, “Under the Business and Industry Guaranteed Loan Program, borrowers have the opportunity to receive better pricing and terms than are available through conventional loans. This, in turn, helps support small business success, which is critical to the health of rural economies.”
The 96-room hotel was built in 2019 and is located minutes from the town’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 pool, a complimentary breakfast area, as well as a fitness and business center.
Under the USDA’s OneRD Guaranteed Loan Initiative, X-Caliber Rural Capital provides financing for rural businesses and economic development projects under four flagship programs:
- Water and Waste Disposal Guaranteed Loan Program
- Community Facilities Guaranteed Loan Program
- Business and Industry Guaranteed Loan Program
- Rural Energy for American Guaranteed Loan Program
USDA loans provide competitive financing options to qualified borrowers. As one of the four programs offered under the OneRD Guaranteed Loan Initiative, the Business and Industry Guaranteed Loan Program focuses on promoting small businesses and creating jobs in rural communities.
About X-Caliber –www.x-calibercap.com
X-Caliber Capital is a nationally recognized direct lender that has been building long-term relationships with our clients for 30 years. The X-Caliber team offers a broad breadth of experience and capital markets knowledge unrivaled by its competitors. The principals have provided capital in excess of $80 billion 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 U.S. Department of Agriculture lender that provides financing for rural business and economic development projects under four flagship programs that fall under the OneRD Guaranteed Loan Initiative. The Company is dedicated to creating attractive solutions for its borrowers that meet the needs of rural communities throughout the country.