Hotel Finance Resource
Hotel Finance News
December 13th 2006

Dear Lyman,

Iím Pete Whiskeman, HFR's Senior Director of Franchising and Director of Equipment Finance.

Since 1998 Hotel Finance Resource has been leveraging each of our three senior partners 30 years experience in hotel, real estate, equipment and general finance to help our clients secure the right funding for their projects.

In this monthís newsletter, I am pleased to introduce one of our funding partners in furniture, fixture, technology and equipment leasing that we have been working with for over 5 years: TCF Equipment Finance, Inc. We interviewed Dianne Tetzlaff, our Relationship Manager at TCF and asked her about the important qualifications you need to consider when choosing a leasing company.

There's more. Donít miss Lyman Aldrich's monthly loan profile! This month, Lyman features rates at 5.61% for acquisition and refinancing!

Thank you for being a part of the HFR community!

Pete & Lyman

in this issue
  • TCF Equipment Finance, Inc.
  • Interview with Dianne Tetzlaff of TCF Equipment Finance Inc.
  • Todayís Loan Program Profile: Rates at 5.61% for acquisition and refinancing!
  • About Hotel Finance Resource

  • Interview with Dianne Tetzlaff of TCF Equipment Finance Inc.

    Dianne thank you for taking the time to share your expertise with us today. First, tell us a little bit about TCF to frame the rest of our interview.

    Dianne: TCF Equipment Finance Inc. provides a variety of equipment finance solutions for the hospitality and other targeted industries. We are a wholly-owned subsidiary of TCF National Bank (TCF) established in 1923, and can be found on the NYSE (TCB). TCF Equipment Finance Inc. offers equipment lease financing nationally. We are committed to exceeding the needs of our vendors, sources, and customers. We are dedicated to being experts at what we do, and maintaining strong, personalized relationships with our customers. We are well known for the people side of our business, and are very proud to have that unique quality in this day and age.

    It is a rare quality. And how long has TCF been in the hospitality industry?

    Dianne: We have been involved in hospitality leasing for about the last 10 years - since 1997.

    Thatís a real history. Tell us why a company would choose to lease furniture fixtures and equipment vs. buying outright?

    Dianne: Leasing technology, furniture, fixtures, and equipment, is another avenue for funding purchases and diversifying debt. In hospitality, our clients spend money on a regular basis. Some of that spending is planned and some is unplanned. Leasing allows the client to leave their existing bank lines open for other expenditures they may need to make. Lease Rates are competitive, and, if you think about it, it really does make sense to lease FF&E and technology in a way that allows you to pay for it over its useful life vs. stretching it over a longer term mortgage or construction loan.

    Makes a lot of sense. Now what should a client look for in a leasing company?

    Dianne: The most important qualities in my mind are relationship and stability. There are a lot of companies out there who sell the relationship part of their business on paper. But when you actually pick up the phone to call someone, you are directed into a call center to speak with someone you donít know. Stability is essential; you want to make sure the company you applied with is the same company who will service your lease throughout the remainder of the term. That company should also be there when you need additional financing down the road. TCF services its own leases and doesnít sell them off. You will speak to the person that is responsible for your lease, whenever you have a question or a problem. The leasing company you choose should also be established in the industry and should have preexisting relationships with vendors.

    So tell us what makes TCF a great leasing company to work with.

    Dianne: Well, a recommendation from a reputable advisor like Hotel Finance Resource is a great endorsement and an indicator of the quality of service TCF offers to clients.

    I like to think we earned that endorsement, in part, because of the personal approach we take to our business. Whenever you call about your lease, you speak to the same person. We value our relationships and we believe that personal attention and consistency is the way to build and maintain them. Our goal is to keep clients happy and coming back to us.

    Now, tell us about your role, Dianne.

    Dianne: In the case of HFR clients, I am the dedicated Relationship Manager. I have been with TCF for 10 years serving clients in the hospitality and restaurant industries. I enjoy my work and my relationships with my customers. My role is to help people in making good decisions about lease term, structure, and their specific goals regarding cash flow/budgeting. I strive to service them in a way that will allow them to spend their time worrying about their daily business, instead of how they are going to pay for equipment. Every day I ask myself these questions so that I may incorporate these goals in how I service my customers; What can I do to make this person's life easier? How can I help them be more profitable and competitive?

    OK, Iím a potential client and Iím now sold on leasing (pun intended). What do I do?<br>
    Dianne: The process is very easy. We have a one- page application that the client completes. Once we have the application and any necessary info about the project, the credit decision can be made in as few as 4 hours. Once approved, we send the paperwork overnight. TCF sends purchase orders, handles invoices, and tracks the progress with vendors. It saves the client a lot of time because TCF does all of the follow-up, accounting and check writing to vendors. The client gets just one invoice from TCF.

    Sounds like a quick, easy and flexible process. Who do I contact if I have questions or want to fill out an application today?

    If you have an interest in exploring leasing furniture, fixture, technology and equipment, please contact me, Dianne Tetzlaff, at 1-800 -442-7811 ext. 7447, email me at or learn more and download an application here. I look forward to answering your questions and helping you get the lease that meets your needs.

    Thanks for sharing your time and expertise with us today, Dianne. It is a pleasure working with you.

    Todayís Loan Program Profile: Rates at 5.61% for acquisition and refinancing!

    A 5.61% interest rate is being offered by one of our lenders for existing full service and branded hotels. (The rate is as of 12-11-06.)

    The other features are:

    • Non-Recourse
    • 5-year term
    • 30 year amortization
    • Full service
    • 75% loan-to-value
    • 1.35 debt service coverage ratio
    • Conduit loan

    The 10 year rate begins at 5.63% with the other features that are listed above.

    The rates for the acquisition or refinancing of existing LIMITED SERVICE, BRANDED HOTELS begin at 5.68% (as of 12-11-06).

    The other features are:

    • Non-Recourse
    • 10-year term
    • 25 year amortization
    • Limited service
    • 75% loan-to-value
    • 1.40 debt service coverage ratio
    • Conduit loan

    The 10 year rate begins at 5.7% with the other features that are listed above.

    Please contact Lyman Aldrich at 901-854-6366 to discuss how you can take advantage of these incredible interest rates.

    About Hotel Finance Resource

    HFR has relationships with over 60 lenders nationwide to bring you the best solutions to your hotel financing needs.

    In the past 7 years, we have successfully completed over 2,200 hotel financing transactions closing loans totalling over $550 Million dollars.

    You can benefit from each of our three senior partnersí 30 years experience in hotel, real estate, equipment and general finance.

    Our depth of experience and our relationships make
    Hotel Finance Resource a company you can trust.

    Please call Pete or Lyman today at 901-854- 6366.

    TCF Equipment Finance, Inc.
    TCF Logo

    If you have an interest in exploring leasing furniture, fixture, technology and equipment, please contact Dianne at 1-800 -442-7811 ext. 7447, email Dianne at

    Learn more and download an application here...
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