258 | Cash in a Crisis: SBA launches COVID-19 loan program, but experts urge caution

Summary: Dave Shah grew up in his family’s hotel and watched his parents and other hoteliers struggle to stay in business during the Great Recession. He thinks the economic situation for hoteliers during the COVID-19 crisis is growing worse than that time. Shah founded Pineapple Capital Group five years ago to help hotels and other small business owners buy, sell and borrow. In Episode 258, Lodging Leaders examines what financial solutions are available to hotel owners during the crisis, including the SBA emergency loan programs.<br> We also talked to Paul Darrow of PHD Financial which specializes in helping small business owners in negotiating distressed debt with lenders. We also feature Jyoti Sarolia of Ellis Hospitality Group who reached out to her bank early in the crisis.<br> And in a special addition, you’ll hear a story of miracle that is keeping one hotel afloat in the short term.<br> Resources and Links<br> <br> * <a href="https://www.linkedin.com/in/kal-patel-5748861/" target="_blank" rel="noopener noreferrer">Kal Patel</a> of <a href="https://www.linkedin.com/in/kal-patel-5748861/" target="_blank" rel="noopener noreferrer">Crestpoint Companies</a><br> * <a href="https://www.linkedin.com/in/cierrabickel/" target="_blank" rel="noopener noreferrer">Cierra Bickel</a> of the <a href="https://www.ihg.com/holidayinnexpress/hotels/us/en/cincinnati/cvgrb/hoteldetail?cm_mmc=GoogleMaps-_-EX-_-US-_-CVGRB" target="_blank" rel="noopener noreferrer">Holiday Inn Express and Suites Cincinnati Redbank North East</a><br> * <a href="https://www.linkedin.com/in/jyotisarolia/" target="_blank" rel="noopener noreferrer">Jyoti Sarolia</a> of <a href="https://ellishospitality.com/" target="_blank" rel="noopener noreferrer">Ellis Hospitality Group</a><br> * <a href="https://www.linkedin.com/in/paul-darrow-0a198531/" target="_blank" rel="noopener noreferrer">Paul Darrow</a> of <a href="https://phdfinancialllc.com/" target="_blank" rel="noopener noreferrer">PHD Financial</a><br> * <a href="https://www.linkedin.com/in/dharmangshah/" target="_blank" rel="noopener noreferrer">Dave Shah</a> of <a href="http://www.pineapplecapitalgroup.com/" target="_blank" rel="noopener noreferrer">Pineapple Capital Group</a><br> <br>