HOTEL LOANS
Hotel Loans Backed by the U.S. Government
SBA 7(a) / SBA 504 / USDA Hotel Loans
Adjustable above or below Wall Street Journal prime rate of 7.75 (Updated on 2024-11-08).
Information herein may or may not be updated, and is subject to change without notice.
Visit BankRate.com for the most updated WSJ Prime Rate.
SBA 7(a) Hotel Loans
The 7(a) Loan Program, SBA’s most common loan program, includes financial help for small businesses with special requirements. This is a good option when real estate is part of a business purchase such as hotels and motels, but it can also be used for:
Short- and long-term working capital
Refinancing current business debt
Purchasing and installation of machinery and equipment
Purchasing furniture, fixtures, and supplies
To be eligible 7(a) loan assistance, businesses must:
- Operate for profit
- Be considered a small business, as defined by SBA
- Be engaged in, or propose to do business in, the United States or its possessions
- Be able to demonstrate a need for a loan
- Use the funds for a sound business purpose
- Not be delinquent on any existing debt obligations to the U.S. government
- Be creditworthy and reasonably assure repayment of the loan
Some businesses may not qualify for a 7(a) loan. The maximum loan amount for a 7(a) loan is $5 million. Key eligibility factors are based on what the business does to receive its income, its credit history, and where the business operates. For additional information on eligibility criteria and loan application requirements, you are encouraged to contact us and we will help you figure out if you are eligible and how to structure your loan.
SBA 504 Hotel Loans
The 504 Loan Program provides long-term, fixed rate financing for major fixed assets that promote business growth and job creation. 504 loans are available through Certified Development Companies (CDCs), SBA’s community-based partners who regulate nonprofits and promote economic development within their communities. CDCs are certified and regulated by the SBA.
To be eligible for a 504 loan, your business must:
Operate as a for-profit company in the United States or its possessions;
Have a tangible net worth of less than $15 million;
Have an average net income of less than $5 million after federal income taxes for the two years preceding your application;
Other general eligibility standards include falling within SBA size guidelines, having qualified management expertise, a feasible business plan, good character and the ability to repay the loan.
Loans cannot be made to businesses engaged in nonprofit, passive, or speculative activities. For additional information on eligibility criteria and loan application requirements, you are encouraged to contact us.
Loan Calculator
You can use the loan calculator below to estimate your approximate payments and total financing costs before applying for your hotel loan. This can help you make an informed decision regarding which type and size of hotel loan is right for you.
Lender Match
When you work with our preferred SBA, USDA or conventional lenders, we guarantee success in your hotel loan approval at competitive rates and flexible financing (*minimum terms and conditions apply). We will match you with the right lender and provide English-to-Hindi or English-to-Gujarati translation help, as needed. Our trusted top national and local lenders have a track record of successfully securing a high volume of hotel loans across the country, even during COVID-19. Leverage our capital relationships, integrity and commitment to get you the best deal. FREE loan advisory services – Security and privacy protected. No social security number required. No credit inquiry. No cost. No obligation. Get matched to a Lender offering conventional or government-backed funding that matches your loan criteria.
