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 Hotel / Motel Loan by Tom Markel

The hospitality industry can be a profitable venture for you or it can be a complete financial disaster. The way to ensure the former and avoid the latter is to have a solid business plan walking in and a finance source that you can rely on. You'll have to write the plan yourself, but we have some resources and tools here that you can use to polish it up. We also have the list of finance sources you'll need to get your hotel or motel business off the ground. All you need to do is fill out one application form and we'll take care of the rest. iBank will shop your request around and find you the right lender.
Are you buying an existing structure or a plot of land to build a new one? If you're looking for a commercial mortgage to buy an existing hotel or motel you'll need to get your hands on some of the previous owner's financial records or reports. The bank will want to know whether or not that location was profitable before. If not, they'll want to know how you plan on turning it around. That's a big issue for any lender because it will help determine your ability to pay back the loan. Include a plan of action in your business plan and make sure you have a back-up plan if the first one is unsuccessful.
If you're a developer and you're looking to buy, renovate, and sell, you'll need to prove your ability to do the work and also provide evidence that the market will be favorable for a hotel sale when you've completed the construction. These issues are more closely examined now because many banks have been stuck with a number of foreclosed properties in recent years. Commercial ventures aren't classified the same as home mortgages, but you will need to include a resale strategy as part of your business plan.
If you're buying land and looking to build on it, you may need to take out a development loan to create the infrastructure. Sewage, power, and water access need to be established, as does roadway access if the land is a distance away from an existing road. If you're building a luxury hotel in the country, you'll need to add the cost of these elements into your business plan. It's not just the building itself that you'll have to pay for. Some lenders will put all of this on one loan. Others will request that you take separate loans in each phase, development, construction, and working capital. 

Most Recent Postings

Type Amount Location Date Posted
Hotel / Motel Loan $800000 Winchester,
October 28, 2014
11:23 AM
Hotel / Motel Loan $15000000 Vermillion,
October 24, 2014
3:00 PM
Hotel / Motel Loan $5000000 Lakewood,
October 22, 2014
8:06 AM
Hotel / Motel Loan $2000000 south jordan,
October 21, 2014
4:03 PM
Hotel / Motel Loan $2000000 south jordan,
October 21, 2014
4:02 PM
Hotel / Motel Loan $300000 Mt. Juliet,
October 20, 2014
12:12 PM
Hotel / Motel Loan $60000 williamsburg,
October 17, 2014
11:29 AM
Hotel / Motel Loan $1800000 Dillon,
October 13, 2014
12:53 PM
Hotel / Motel Loan $400000 Leander,
October 10, 2014
3:02 PM
Hotel / Motel Loan $370000 Monroe,
October 10, 2014
11:25 AM

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