Herring Bank Enhances Access to SBA and Commercial Hotel Loans Across Texas, Oklahoma, and Colorado
Herring Bank has expanded its hospitality lending services across Texas, Oklahoma, and Colorado, offering a full range of hotel financing solutions including SBA 504 and 7(a) loans, conventional loans, refinancing, new construction loans, and CMBS financing. With decades of industry experience, the bank's dedicated hospitality lending team provides tailored support to hotel developers and operators at every stage—from acquisition to portfolio growth.
Amarillo, TX - March 26, 2025 - Herring Bank, a leading provider of commercial financing solutions, is strengthening its commitment to the hospitality industry by expanding access to a comprehensive suite of hotel loans and hospitality lending programs across Texas, Oklahoma, and Colorado. The bank offers a full range of financing options including SBA 504 loans, SBA 7(a) loans, conventional loans, refinancing, new construction loans, and CMBS (Commercial Mortgage-Backed Securities) to meet the diverse needs of hotel developers and operators.
With a strong track record of supporting entrepreneurs in the hospitality sector, Herring Bank is positioning itself as a key financing partner for hoteliers navigating today's market.
' We're very optimistic about the hospitality sector's growth, especially across the Texas-Oklahoma-Colorado region, ' said Andy Nenstiel, President of Herring Bank. ' Our team brings decades of industry experience, and we're proud to offer tailored hotel loan solutions that help owners and developers approach new opportunities with confidence. '
The bank's specialized hospitality lending team works closely with clients through every phase of the financing process, from acquisition and ground-up construction to refinancing and portfolio expansion. This hands-on approach has helped numerous clients structure deals that align with their investment goals while maximizing long-term value.
Expanding Hospitality Lending Across the Southwest
Herring Bank's presence in the region is reinforced by dedicated online resources tailored for local markets:
These platforms offer insights into loan qualifications, program comparisons, and current market trends, helping hotel investors make informed decisions.
As travel demand rebounds and regional markets continue to evolve, Herring Bank remains committed to providing flexible, competitive financing for hotels, motels, and resort developments.
About Herring Bank
Founded in 1899, Herring Bank is a privately-owned financial institution with a legacy of empowering local communities through personalized banking and lending solutions. With a strong focus on commercial finance, Herring Bank's hospitality lending division provides expert guidance and funding for hotel acquisitions, construction, refinancing, and renovations.
To learn more about hotel loans and financing options, visit www.herringbank.com.
Disclaimer:
This press release may contain forward-looking statements. Forward-looking statements describe future expectations, plans, results, or strategies (including product offerings, regulatory plans and business plans) and may change without notice. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements.
Media Contact
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Wire
14 hours ago
- Business Wire
KBRA Comments on TowneBank's Merger Agreement to Acquire Dogwood State Bank
NEW YORK--(BUSINESS WIRE)--On August 19, 2025, Portsmouth, VA-based TowneBank (NASDAQ: TOWN)(KBRA Senior Unsecured Debt rating: A-/Stable Outlook) announced a definitive acquisition agreement with Raleigh, NC-based Dogwood State Bank, (OTC: DSBX, "Dogwood", $2.4 billion assets, $2 billion deposits) in an all-stock deal valued at $476.2 million (or $25.04/share of DSBX common stock, based on TOWN's 15-day average closing stock price of $35.77 on August 18, 2025), reflective of a price to TBV of 2.1x. The merger is expected to close in 1Q26. The proforma bank will have $22 billion in assets, $16 billion in loans, and $19 billion in deposits including the pending acquisition of Old Point Financial Corporation (expected to close September 1, 2025). This transaction would represent three closed acquisitions within a one-year time frame for TOWN. The acquisition significantly enhances TOWN's presence in North Carolina and South Carolina, two of the fastest-growing regions in the U.S. Further, the deal provides TOWN with the market leadership and scale as Dogwood has 17 retail branches in attractive markets including Raleigh, Charlotte, Greenville (NC), Wilmington, and Charleston (SC), complementing TOWN's existing Carolinas presence. Together, the combined entity will have a meaningful footprint across the top 5 Carolinas MSAs, including Charlotte, Raleigh, Greenville, and Charleston. Dogwood specializes in providing lending services (namely SBA lending) to small businesses through its small business lending division which will be complementary to TOWN's various existing business lines. While Dogwood's revenue mix is largely spread based (~80% - 85%), the addition of its SBA lending provides TOWN an additional fee generating business line (noninterest income has tracked near 40% of TOWN's total revenues in recent quarters). Dogwood's higher-yielding loan portfolio (6.81% for 2Q25) was slanted towards C&I, which represented 40% of total loans at 2Q25 (includes owner-occupied CRE), with non-owner occupied CRE comprising 28% (includes multi-family) and C&D at 10%. Additionally, with its focus on small business/SBA lending, Dogwood's loan portfolio carries a slightly elevated risk profile, though we note Dogwood's recent credit performance was generally in line with industry averages including an NCO ratio typically near 0.2%. Furthermore, TOWN has a long track record of peer-leading asset quality and a proven history of successful integration of past acquisitions. TOWN's loan review process covered 40% of Dogwood's loan portfolio with a diligent focus on its SBA lending and a credit mark of $22.5 million, or 1.2% of Dogwood's loans. The transaction also includes estimated interest rate marks of $38.1 million on the loan portfolio, $10.6 million on HTM securities, and $2.7 million on AOCI securities. Overall, the impact to TOWN's capital is expected to be moderate, with a reported proforma CET1 ratio of ~11% (we note that this proforma ratio includes the impact of the pending acquisition of Old Point Financial which is expected to close in 3Q25). With that said, TOWN has historically managed capital consistently at or above rated peer averages (CET1 ratio has generally ranged from 12% -13%). KBRA expects TOWN to rebuild capital closer to historical levels with enhanced profitability trends stemming from the pending transactions. Steve Jones, CEO of Dogwood, will remain in a key leadership position with the combined bank, assuming the role of President for TOWN's North Carolina and South Carolina banking operations supported by 75 seasoned bankers across the region. In addition, TOWN will appoint one director from DSBX to its board. As a reminder, TOWN recently announced the in-market acquisition of Old Point Financial Corporation ($1.5 billion assets) in a combination of stock and cash deal valued at ~$213 million, which is expected to close in 2H25. TOWN closed the Richmond, VA -based Village Bank and Trust Financial Corp ($748 million in assets) acquisition on April 1, 2025. This was an all-cash deal valued at $120 million. In our view, the acquisition of Dogwood State Bank represents a strategically significant expansion that strengthens TOWN's position within the fast-growing Carolinas corridor. The transaction broadens market penetration, enhances loan portfolio diversification, and bolsters the funding base with a greater proportion of low-cost deposits. About KBRA KBRA, one of the major credit rating agencies, is registered in the U.S., EU, and the UK. KBRA is recognized as a Qualified Rating Agency in Taiwan, and is also a Designated Rating Organization for structured finance ratings in Canada. As a full-service credit rating agency, investors can use KBRA ratings for regulatory capital purposes in multiple jurisdictions. Doc ID: 1010927
Yahoo
15 hours ago
- Yahoo
SBA loan denied: What to do next
Key takeaways There are three steps to take if your SBA loan is denied. Even if your SBA loan is denied, you can reapply after 90 days. Alternative lending options outside of SBA financing are available. Applying for a small business administration (SBA) loan can be a great way to get funding for your business, but not every loan application gets approved. Only 32 percent of loan applicants were fully approved for an SBA loan in 2024, according to the 2025 Report on Employer Firms from Fed Small Business. If you were part of the other 68 percent of SBA loan applicants who were denied or only partially approved, what do you do? If you've been denied an SBA loan, take time to improve your financial standing, consider your business financing options, and potentially apply for an SBA loan again. 1. Find out why your SBA loan was denied The lender you applied with should provide an explanation for its decision. In addition to the requirements set by the SBA, lenders will also have their own business loan requirements you must are a variety of reasons why your application may have been rejected. The size of your business, cash flow and a few other factors will all play a role. If the explanation you receive isn't clear, you can always reach out to the lender you applied with for more information. Credit While the SBA doesn't have a set minimum credit score, the lender you apply with likely does. You will need to meet both a minimum personal credit score and a minimum business credit score, if applicable, to qualify for an SBA loan. Lenders may evaluate you on the five c's of credit, which include a capacity to repay and the economic conditions of your industry. Business size Your business must meet the SBA definition of a small business. Some requirements include meeting minimum annual revenue requirements and having fewer than 500 employees. However, this may vary based on your industry. Your lender may have its own requirements, so check those as well. Cash flow You must have enough cash flow to handle payments each month. This means knowing the average loan amount approved by the SBA — and not trying to borrow beyond your means. You can do a cash flow analysis for your business to determine if you have the room in your finances to handle a loan payment, whether you apply for another SBA loan or seek alternative financing. Debt service coverage ratio Your company's debt service coverage ratio (DSCR) compares how much cash flow you have to how much you owe. Lenders use this metric to determine if you make enough money to handle more debt. To determine DSCR, divide net operating income by total debts (including principal and interest) due in the same period. Industry The SBA does not work with businesses in all industries. Unfortunately, if your business is in one of the excluded industries, you won't qualify for any SBA loans. Real estate investment firms Businesses involved in speculative activities Lenders, banks, finance companies, lease companies or insurance companies Multi-sales distributions or multi-level marketing Gambling, excluding lottery sales or state-regulated gambling Charity organizations, religious organizations or nonprofits that rely on charity In addition, any business that operates illegally or is involved in illegal activity is ineligible. Finances The SBA requires you to have invested sufficient personal equity into your business and to have exhausted all other financing options before you apply for SBA loans. This means you may need to consider first applying for a business loan through a bank or alternative lender to qualify for SBA funding. On the upside, SBA loans don't require a personal guarantee because part of the loan is already backed by the government. There are also revenue or income requirements for SBA lending. These vary based on the lender. Unlike traditional loans, SBA loans often have revenue or income limits instead of minimums. For instance, if you apply for an SBA 504 loan with Bank of America, your business can't have an average net income of more than $5 million after taxes for the last two years. To qualify for SBA lending, businesses must also demonstrate an ability to repay the loan. To that end, the potential lender will want to evaluate your business's debts, expenses and revenue. If you're applying for a 504 loan, you'll also need to budget for a 10 percent down payment. Business operations and location You must be a for-profit business and operate in the United States to qualify for an SBA loan. This includes being fully registered with your state and/or municipality with a business license. Your industry also matters — if it is on the list of exclusions, you won't be eligible. Equity injection An equity injection is any funds or assets that the owner has invested in the business. In the past, the SBA required an equity injection of at least 10 percent for startup businesses and complete changes of ownership. Loans granted after August 1, 2023, aren't subject to that requirement anymore. However, individual lenders may have their own requirements for equity injection. Criminal history In the past, the SBA could potentially require an extensive criminal background check process for SBA applicants with a criminal background. Now, the application only requires applicants to answer one question about criminal history. No criminal background check or fingerprinting is required by the SBA. Prior loss of money to the government If you've defaulted on an SBA loan – or other government-backed loan – before, it could impact your eligibility for future loans. Money lost to the government from a previous loan is reported in the federal Credit Alert Verification Reporting System (CAIVRS) database. When you apply for an SBA loan again, the lender can see that you've defaulted on an SBA loan before. This can make it more difficult to be approved for a new loan. Incorrect application If you've made a mistake on your SBA loan application, it can lead to denied funding. Mistakes such as forgetting to include all paperwork or inaccurate financial information can mean a delayed or denied loan. If the reason listed in your loan denial letter is easily fixable, reach out to the lender. They may be able to problem-solve with you on how to fix your application. 2. Consider applying again If the reason you were rejected is an issue you can solve, your business is welcome to apply again. There is a 90-day waiting period between applications. But you can use this to your advantage by focusing on improving your application and increasing your chances of approval. Actions like improving your credit score, cash flow and personal equity in the business can all positively impact on your eligibility. Credit score. SBA lenders will check both your personal and business credit scores. If you can, improve these numbers by lowering your credit utilization ratio or seeking an alternative to an SBA loan while you wait to reapply. Cash flow. While the SBA doesn't have an annual revenue or cash flow minimum requirement, your lender likely will. And even if neither does, your cash flow must be enough to cover the cost of the loan in addition to normal business expenses. Personal equity. The SBA requires each business owner to invest some personal equity into the business. If you have access to personal assets or other financial resources, determine if they can be used to further your business before you apply again. Documentation. Review the documents you need to submit when you're ready to reapply for an SBA loan. Like with other requirements, there will be documents required by the SBA and additional documents required by your lender. Business plan. As a part of improving your documentation, take a second look at your business plan. Strengthening your business plan could help your application stand out. Consider asking a business mentor or fellow business owner to take a look and give feedback to help you improve it. 3. Look at alternatives to an SBA loan Even if you plan on reapplying, you should still consider alternatives. Between the 90-day waiting period and the SBA application processing times, it can take well over three months to receive financing. And for businesses that don't qualify for an SBA loan, these alternatives are good choices to find the funding your business needs. Online lenders. For some small businesses, alternative business loans from an online lender may be easier to qualify for. These tend to have less strict requirements but may have higher interest and more fees. If you try for an SBA loan with an online lender and aren't approved, you may want to ask if you qualify for other loan options. Bank loans. Banks are a traditional source of business financing, and many banks offer business loans. Requirements are usually as strict as an SBA loan. However, interest rates tend to be very competitive. If you apply for an SBA loan with a traditional bank and get declined, you may be offered a different type of loan that is better suited to your needs and situation. Bad credit loans. If your credit score is the main reason your application was denied and you need funding fast, consider a bad credit business loan. While the interest rate may be higher with a shorter repayment period, it will give you access to funds and help improve your credit score if you make on-time payments. Business credit cards. You may want to consider a business credit card if your business has frequent, small expenses. Lines of credit. Similar to business credit cards, business lines of credit offer flexibility for small, recurring expenses. Plus, they tend to have lower rates than credit cards. Grants and crowdfunding. Businesses involved in public service or nonprofits, which may not qualify for SBA loans, could turn to grants and crowdfunding for financing you won't need to repay. Personal loans. If you are not yet in business or have less than a year under your belt, you could consider a personal loan as an alternative form of financing for your business. Merchant cash advance (MCA). Merchant cash advances are easy to qualify for and give you a cash advance for future credit and debit card sales. Fees and interest rates are significantly higher than other options but do provide fast funding and a quick approval process. The bottom line Many businesses can't qualify for an SBA loan, but that doesn't mean there aren't other options available. Once you review why your application was rejected, you can choose to apply again or explore you decide, you may want to explore more business loans to find the right lender and loan for your business. Frequently asked questions Can you reapply for an SBA loan? Yes. The SBA allows you to reapply after 90 days, provided you are eligible. What credit score do you need for an SBA loan? There is no listed score for an SBA loan, but the average business loan credit score is in the good to excellent range — a FICO score of 670 or higher. If you meet requirements, can you still get rejected from an SBA loan? Yes, it is possible to get rejected from an SBA loan even if you meet the SBA requirements. SBA loans are administered through private lenders, and each lender may have its own requirements. You'll need to meet both SBA requirements and lender requirements to qualify for an SBA loan. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
16 hours ago
- Business Wire
SBA Communications Corporation to Speak at Citi's 2025 Global TMT Conference and the BofA Securities 2025 Media, Communications and Entertainment Conference
BOCA RATON, Fla.--(BUSINESS WIRE)--SBA Communications Corporation (NASDAQ: SBAC) ('SBA') announces that Marc Montagner, Chief Financial Officer, is scheduled to speak at Citi's 2025 Global TMT Conference, Wednesday, September 3, 2025, at 12:50 PM ET. The conference will be held at The New York Hilton Midtown in New York. Marc Montagner is also scheduled to speak at the BofA Securities 2025 Media, Communications and Entertainment Conference, Thursday, September 4, 2025, at 2:00 PM ET. This conference will be held at The Bank of America Pavilion in New York. The audio presentations for SBA can be accessed by visiting About SBA Communications Corporation SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure including towers, buildings, rooftops, distributed antenna systems (DAS) and small cells. With a portfolio of more than 44,000 communications sites throughout the Americas and in Africa, SBA is listed on NASDAQ under the symbol SBAC. Our organization is part of the S&P 500 and one of the top Real Estate Investment Trusts (REITs) by market capitalization. For more information, please visit:
