Hotel Funding Loans

Could we help your hotel grow?

Hotel business loans from Smart Funding Solutions could be used towards:

What are the benefits of getting a business loan?

Whether you’ve recently acquired a hotel and need help with day-to-day cash flow or need an injection
of capital to renovate your existing property, we’re here to help with flexible funding for your business.

How can we help?

Running a successful hotel in the hospitality sector is a difficult challenge at the best of times, with their being so many different types of hotel nowadays the competition is fiercer than ever. The hospitality sector was hit the hardest through the pandemic, which lead to many hospitality businesses looking for both short term finance and long term business finance via the recovery loan scheme or other financial institutions.

When it comes to finding the right business funding solution, here at Smart Funding Solutions we have a solution for every need. From merchant cash advances, bridging loans, to a commercial mortgage, unsecured business loans and more. We strive to find the ideal product to finance your hotel business. There are many benefits of hotel financing with a vast array of loan options and flexible repayment options, we’ll steer you in the right direction with our product knowledge and expertise.

The hospitality industry is a great place to first time buyers looking for their first hotel purchase, boutique hotels looking to expand their portfolio and businesses looking to become a hotel owner by purchasing their current lease. We have access to lenders who offer hotel mortgages, development finance and bridging finance products. If you’re looking at property finance, remortgaging, building or renovating, a secured business loan typically offers the lowest rate and longest term as it’s back by an asset of high value. Business loans for hotels can be both an unsecured business loan or a secured business loan such as asset finance.

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Frequently Asked Questions

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Hotel Business Loans are tailored financing options designed to meet the specific needs of the hotel and hospitality industry. The funds can be used for property acquisition, renovations, upgrades, operation costs, or expansion plans.

Hotel Business Loans are intended for individuals or corporations involved in the hotel, hospitality, or accommodation industry. This could range from owners of small bed-and-breakfast establishments to larger hotel chains.

Funds from a Hotel Business Loan can be used for a multitude of purposes such as property acquisition, renovation or refurbishment, purchasing equipment, paying for staff training, marketing initiatives, expanding the business, or managing day-to-day expenses.

There are several types of Hotel Business Loans including term loans, business lines of credit, equipment financing loans, property development loans, commercial mortgages, franchise financing, as well as working capital loans.

Consider the specific needs of your business, the expected return on your investment, your capacity to repay the loan, and whether the cost of the loan is justifiable. A well-prepared business proposal and good creditworthiness can boost your chances of securing the loan.

The application process typically involves selecting a lender, preparing a thorough business case, and submitting your application with all the necessary documentation. This could include financial statements, business registration proof, revenue projections, and other relevant records.

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The interest rates on Hotel Business Loans can vary depending on your creditworthiness, the size of the loan, the term of the loan, and the lender themselves. Comparison of different loan products can help find a competitive rate.

This largely depends on the type of loan and the lender’s terms. Secured loans require collateral, while unsecured loans generally do not. However, unsecured loans usually come with higher interest rates and stricter eligibility requirements.

While having good credit will enhance your chances, it’s not a complete roadblock if your credit history is less than perfect. Some lenders may consider your business performance and potential over your credit score.

Yes, there are various UK government schemes to support businesses, including the well-known Start-Up Loans scheme and the Recovery Loan Scheme. It’s recommended to always search official government sites for the most recent and accurate information.

The time it takes to receive your funds will largely depend on your lender. Traditional banks could take several weeks for approval and disbursement, while online or alternate lenders could provide the funds within a few days of approval.

The existence of early repayment penalties will depend on the specific loan agreement. Some lenders might charge a fee for early repayments, while others might not. Make sure you’re fully aware of these conditions before agreeing to the loan.

An unsecured business loan could be a merchant cash advance, invoice finance, or a revolving credit facility. Unsecured loans are typically the quickest and easiest route to funding as they require the least amount of information and you receive a quick decision. We can help a sole trader, a limited company and a LLP. Regardless of which route you’d like to explore further, each funder has a different lending criteria. Each lender will typically check the following:

Smart Funding Solutions are authorised and regulated by the financial conduct authority, FRN: 972740

Enquire now to see how we can assist your business

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