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Hotel Loans for Your Small Hotel or Motel Financing Needs
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:
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.
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 one year old business with a $15,000 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.
Getting hospitality development finance from Business Advance Lenders is an easy process that include:
Online Loan Application - There are no application fees to apply for hotel financing online. You can access our business loan application 24/7 from anywhere and fill out your details. You need not fax your completed form; just submit it online.
Instant Loan Approval Decision - No waiting for days to weeks! Once you submit your request for hotel financing, you will get fast decision on whether you are approved the funding.
Hotel Funds in 24 Hours - If you are approved the hotel or motel funding, the approved capital is transferred to your authorized bank account in 24 hours on usual business days.
Developing or improving hotels, motels and other lodging properties has become convenient and quick with availability of online hospitality lenders offering hotel and motel loans on flexible terms and business loan length. Therefore, invest in hospitality staffing, education, marketing, expansion, etc. to boost your business success with confidence through best hotel business loans from Business Advance Lenders. Provide your guests the best level of service and luxury they deserve; while we provide you the needed financing for your hotel and motel business. Get started to apply for hotel financing for varied and evolving needs of your hotel or motel today and get funds up to $2M in one business day.
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