The Best Lender For Hospitality Businesses
Line of Credit – Working Capital – Flexible Payments – Bridge Loan
Our team of personal financial consultants offers a variety of lending services that keep your hospitality business profitable and growing. Whether you are in accommodations, food and beverage, or travel and tourism, our team will help you capitalize on the potential of your business by providing you with the loan products that make sense for you.
Titan Funding Solutions makes it their goal to get you the capital you need quickly while providing experienced guidance to maximize the return on your investment. Our team helps you every step of the way to help you invest in new business opportunities as they develop. Here are some of the most common ways people use our hospitality financing to boost their business:
- Expanding to a new location
- Renovating current establishment
- Growing services and offerings
- Ensuring efficient business operations
What Is A Hospitality Loan?
A hospitality loan is a type of financing that is designed specifically for a hospitality business like a hotel, bed and breakfast, inn or hostel. The underwriting criteria of a hospitality loan is different from most loans because it is unique to the needs of a hospitality business. Hotels, motels, and others in the hotel industry usually have additional income other than their day to day operations. Income streams like pay per view movies, internet charges, telephone charges, restaurant meals, business center services, and other add-on amenities contribute to their operations and the underwriting process. Titan Funding Solutions is aware of the issues that hoteliers face so we have dedicated our services to provide quality loan products to hotel, motel, bed/breakfast, and inn owners.
Benefits Of A Hospitality Loan At Titan Funding Solutions
- Approval of less than perfect credit scores
- No collateral required on amounts under $750,000
- Flexible loan terms up to 18 months
- Very little paperwork and simple application process
- Fast approvals
- Top quality customer service
- Tax deductible interest
- No hard credit pulls that will affect your credit score
How Can You Use Our Hospitality Loans For Your Business
Hospitality financing through Titan Funding Solutions will give you the ability to take advantage of new business opportunities as they emerge. There are a ton of different ways that you can take advantage of our financing solutions. Here are some of the most common that we have helped with over the years:
- Equipment Financing
- Inventory Financing
- Buy/Open a new location
- Buy/Open a franchise
- Pay for franchise expenses
- Liquor licenses
- Other licenses
- Catering services
- Expanding menu and bar options
- Marketing and advertising
- Additional services
- Upgrading computer systems
- Pay business taxes
- Payoff outstanding debt and cash advances
- Operating capital for seasonal slow periods
- Buy out a business partner
How To Quality For A Hospitality Loan
Time in Business – At Titan Funding Solutions we require hotel owners to be in business for at least 18 months.
Business Checking or Savings Account – A checking or savings account gives good insight into a business’ cash flow. We are more likely to approve hospitality loan applications for businesses with a business checking or savings account.
Loan Amount – The amount of the loan affects the amount of weekly or monthly payments. Hotels with smaller cash flows might not qualify for larger loan amounts that require extensive payments.
Credit Score – Titan Funding Solutions is different from the traditional bank. Although we do look at your credit score, it is not a major factor in the decision of approval. We look more at your unique circumstances to make our final decision.
Annual Sales – We require businesses to have an annual income of at least $200,000 to quality for our hospitality loans.
Debt to Credit Ratio – We examine your debt to credit ratio to determine if your hotel has too much debt to qualify for our hospitality loans. We offer pay off options of competitor loans if your business qualifies for our lending options.
Reason For Loan – The only restriction that we put on our loans is that all loan proceeds must be used for business purposes only. We allow you to use your business line of credit however you see fit.
Hotel-Specific Qualifying Criteria – Make sure you are prepared to share your income, expenses, and other revenue statements to our lenders. We take a look at all consolidated departmental operating statements of each hotel.
Apply For A Titan Funding Solutions’ Hospitality Loan Today
Our hospitality loans have guaranteed rates, fixed terms, and affordable payments to help you boost your business’ growth. Our local loan consultants are knowledgeable in the hospitality industry and will work with you through the entire process. Get your free online quote today!