Business Loans for Hotel with Bad Credit

motel loans

Motel owners who are looking for hotel loans often approach the bank for financing, and banks are not keen on funding small businesses on the whole. Typically, banks prefer to fund big businesses and corporations.

As a private lender, Funding Easily provides loans for hotel business without much problem. Our criteria are friendly and reasonable, and most small business including hotels qualify for the funding that we make available. The criteria that we have to provide hotel loans is also very reasonable in comparison to banks, and possible for small hotels also to qualify for.

Our criteria for loan for hotels are mentioned here as follows; the business should be at least 12 months old, and running. The owner of the business should not be in any form of bankruptcy at the time of the application for the hotel business loans. Finally, the gross monthly income of the business needs to be at least or in excess of $10 thousand.

In addition to these easy qualification criteria, there are other features that are also associated with the funding of the business loans, which makes them more feasible for small business owners. Typically, we do not require collateral, security and personal guarantees to provide small business owners with hotel financing. This is a feature that is very realistic and easy in comparison to the criteria of banks. Banks always require collateral, security or some form of personal guarantee.

Traditionally, banks will not touch applications whose credit scores are not around about 700ish, and many small business owners who are looking for fast business funding do not have high credit scores. Our requirements are different, we often work with small businesses whose credit scores are in the mid-500s and fund them.

To provide business funding for hotels we do not have all the stringent and often impractical criteria that are associated with banks. We attempt to keep the process as practical and feasible for small business owners as possible.

The quickest we are able to provide business funding for hotels is in the span of 48 to 72 hours from the time we receive the application. On the other hand banks will take anywhere from a month to a few months to do the same, and realistically a couple of months.

Contact us for more information related to hotel construction loansand or hotel financing companies. Our funding team will provide you with all the information you require, and in addition to this they will also assist you with filling in the application if required.

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