Get a business loan for your hotel or bed & breakfast
There are over 45,800 hotels in the UK and an estimated three quarters of those are independently run businesses. This figure includes branded chain hotels, bed and breakfast accommodation and serviced budget rooms. And despite the government’s concerns of a European slowdown in economic recovery, the hotel sector is predicted to grow by 4.3% due to promising expansion in 2015.
Although the hospitality sector is booming, it’s seasonal and sometimes unpredictable which means that traditional funders like banks aren’t always keen to lend.
That’s why we’ve built a product around your business to help you grow or just plug a seasonal cash flow gap.
Hotel financing with cash advances
Every now and then hotels and bed and breakfasts need a funding boost. Whether you’re starting from scratch or developing your hotel you may need funds for:
- Hiring seasonal staff at busy periods
- Upgrading rooms and carrying out repairs
- Purchasing supplies and equipment Refurbishments
- Buying stock items like linen and complimentary toiletries
- Improving signage and marketing
Or you may simply need cash flow during your less busy months to take you into your peak periods. This is when a Business Cash Advance could be just what you’re looking for. We offer cash advances without the hassle of applying for a bank loan. The process is simple, Quick and easy, without all the paperwork.
A business cash advance is an unsecured injection of cash into your business based on future credit and debit card sales. It’s repaid via a pre-agreed percentage of the business’s card transactions.
Unlike bank loans with fixed monthly payments, pay back is directly linked to your card takings: it only happens when the business earns, so it mirrors your cash flow. Cash advances are unsecured meaning your home stays safe too.
Reasons to choose a cash advance for your hotel business
- Apply in minutes for £2,500-£300,000
- You pay back only when you earn – no fixed monthly payments
- You keep 100% of your cash income
- One clear cost, no APR
- No fees, hidden charges or penalties. Ever
80% of businesses are approved for cash advances and the application process is simple and easy to complete with minimal paperwork and no accounts required.
How it works
A business cash advance is an Unsecured Advance Of Cash based on future credit and debit card sales and is repaid via a pre-agreed percentage of your businesses card transactions.
Because payback is directly linked to card takings, it only happens when your business earns. And unlike many other forms of funding, company or personal assets aren’t required.
What’s more, if the cash advance takes longer to pay off, the originally agreed repayment cost remains the same. No penalties or fees are added, because there’s no such thing as late payment.