If you’re in the hospitality business, providing the very best customer experience possible is important for your future success. This means keeping up with current trends to ensure you maintain an edge over your competition. However, doing so is extremely expensive. This is why commercial business loans specifically tailored for the hospitality industry exist. They provide entrepreneurs and investors with the financing they need to expand their businesses in order to reach their goals. Additionally, commercial property finance options provide the opportunity to acquire or build new hotels, motels, or bed and breakfasts.
These hospitality loans are a bit different from your average mortgage loans. This is a direct result of the extra income streams hotels have on top of their daily operation. This additional income comes from amenities such as internet and telephone charges, restaurants, and business services offered to guests. Due to underwriting processes needed to account for these added income streams, many business owners in the hospitality industry can’t qualify for traditional loans. At Liberty Mortgage, we’ve created loan options for the hospitality industry and can help you acquire the right financing for your business.
How Commercial Business Loans Will Help You
A hospitality loan is a great way to set yourself up for future success by giving you the chance to capitalize on new opportunities. Depending on your situation, this could mean opening another location or adding additional features to your current operation. At Liberty Mortgage, we can help you get the financing you need without having to deal directly with a bank.
Regardless of your business needs, we can help you find the best commercial mortgage rates so you can accomplish your goals without the burden of unreasonable monthly payments. A hospitality loan can help with:
- Hotel renovations and expansions
- Upgrading software needed for daily operations
- Marketing expenses
- Opening new locations
- Financing equipment
- Buying out an existing business partner
- Adding additional amenities such as catering and restaurant service
Advantages of Hospitality Loans
When you apply for a hospitality loan, your lender will have clear expectations regarding your finances. They can then make necessary adjustments for changes in cash flow based on seasonal fluctuations in business. This is a huge benefit and not something you’ll get with a traditional mortgage loan.
In addition, many hospitality loans come with a number of other advantages. If your credit isn’t great, you can still acquire financing. In addition, approvals for these types of loans typically happen quickly so you won’t have to wait to start your new project. Plus, the interest on your loan is tax deductible. Finally, you’ll enjoy flexible repayment terms.
Let Liberty Mortgage Help You Today
Since 1998, we’ve helped individuals and businesses secure the loans they need to open the door to new possibilities. If you’re in the hospitality industry and want to take your business to the next level, we can help. Liberty Mortgage also offers commercial mortgage refinance solutions. Contact us today at 281-542-7392 to get started.