Need a convenient and fast way to access hotel financing options?
Hospitality business is very cyclical in nature. The success of hotels and motels depends on external factors such as real estate markets, weather, economy and the health of tourism industry to a larger extent. Hence, hotel or motel owners need a quick access to financing to accommodate the seasonal needs of their respective business.
The most popular hotel financing options available include:
- SBA 7a Loans
- SSBA 504 Loans
- USDA B&I Loans
- Conventional Bank Loans
- Business Line of Credit
- Private Business Lender Loans
Unfortunately, finding hotel financing easily in the hour of need is extremely challenging because both private hotel lenders and conventional hotel lenders such as banks and credit unions regard hospitality business, a risk-prone industry with tight margins. Banks are cautious and hence do not extend hotel motel financing or loans on easy terms and requirements. Getting government small business loans for hotel or motels involve days to weeks long approval and funding process. In addition, you also need a good credit score of 700 or above and a valid business loan guarantor to avail hotel finance.
What are the alternative hotel financing sources? Many owners of hospitality companies, unable to secure motel or hotel loans from traditional funding options, are obtaining simple and fast access to funds through commercial hotel lenders or companies and financing brokers. However, borrowing via motel and hotel loan brokers involves broker fees, multiple applications, complex and delayed funding process. Therefore, hotel financing from direct business lenders is the viable option for your small business when you need quick and easy working capital.
Direct hotel lenders such as hotel financing companies online involve convenient and simple lending process that is free from the hassles of standing in lines to apply, waiting for approval and getting business cash in hands. If you need an urgent hotel loan to deal with your small business’s operational expenses or want to grab hot business opportunities, then apply to Business Advance Lenders right now.
Why get hotel financing from Business Advance Lenders?
Business Advance Lenders is an online business lending company that offers both hotel and motel loans over a secure platform. To qualify for our hotel financing options, you neither have to pledge your assets nor have to get a personal guarantee. We provide unsecured hotel loans and motel loans that can be qualified with no collateral. Hospitality merchants can obtain hotel financing from us with minimum requirements that include a six month-old business with a $5000 gross monthly revenue or a steady monthly cash flow. Our hotel financing rates may fall on a higher side in comparison to SBA lending and bank small business loan rates; but are competitive than those from other online merchant finance lenders.
Hotel and motel financing can be used for all kinds of small business requirements of hotels without any restriction. You can utilize the funds for your hotel or motel’s repairs, equipment purchases, improvements, relocation, upgrades, marketing, regular maintenance of cash flow, etc. So, if your hotel is facing a slump in profits and you are finding it difficult to cover business’s daily operation costs then hotel loans or motel loans can help you secure a steady business growth.