ATLANTA – December 14, 2021 – Access Point Financial, LLC (APF), a leading direct lender and specialty finance company focused exclusively on the hospitality industry, today announced it exceeded its loan production goal for the year.
As of April 1, APF set forth a goal of $400 million in loan production. Today, the company is on track to close over 60 deals totaling $730 million, an 83% increase over its budgeted production from eight months ago.
“When I stepped in as CEO in April, we set a goal to target $400 million in loan production. It was a lofty goal as we were coming out of a tumultuous 2020 due to the COVID-19 pandemic. That meant there was no room for error, and we had to be certain we made the absolute best loans we could,” said Michael Lipson, CEO of Access Point Financial. “I’m proud of all that the team has accomplished this year. I want to give special thanks to Chief Lending Officer Bruce Lowrey, who oversees originations, credit, underwriting, and asset management. We look forward to continuing the success going into 2022.”
“We were pleased to work with Access Point on a series of development financings for our economy extended stay strategy with the WoodSpring Suites brand,” said David Smith, Senior Director, Whitman Peterson. “Their firm came to the table with enthusiasm and deep industry experience, allowing them to dig into our projects and our general investment thesis in the sector very quickly. Throughout the origination and closing process, we found the whole team to be highly organized, professional, and responsive, resulting in a smooth execution. As a lending partner, Access Point delivered, and we would be delighted to work with them again.”
Some key transactions closed to date include:
“APF took the time to understand the nuances of this intricate refinancing as it evolved over several months,” said Danny Aderholt, Founder, Century Group. “As important, they also took the time to listen to and understand what was important to us. APF’s creativity, patience, and ability to focus on ‘the critical few’ is what sets them apart and has us looking forward to the next transaction with them.”
Access Point Financial is backed by Wafra Capital Partners. The company focuses on midscale to upscale hotels, from limited/select service to extended stay and compact full service in the top 100 MSAs. Access Point Financial loan programs are typically used for acquisition, refinance, conversion, renovations, and new construction opportunities.
For more information on Access Point Financial’s comprehensive portfolio of hospitality-focused financial services, please visit www.accesspointfinancial.com.
About Access Point Financial
Founded in 2011, Atlanta-based Access Point Financial, LLC (APF) is a direct hospitality lender that provides bridge, PIP, capex, construction, and mezzanine/preferred equity financing to qualified hoteliers throughout the United States & Canada. APF’s programs are designed specifically for the hospitality industry and offer an alternative to traditional bank financing. APF understands the complexities of the industry and is uniquely positioned to customize its loan programs to meet the needs of its clients even during periods of volatility.