Any hotel, small or big, is in constant need of money to do business. It has to maintain good interior decor and meet expenses for executing daily operations. So, it is very much required that the owners should file loan applications and that too in a timely manner.

1. Procurement Of Hotel Loans
Any hotel, small or big, is in constant need of money to do business. It has to maintain good
interior decor and meet expenses for executing daily operations. So, it is very much required that
the owners should file loan applications and that too in a timely manner. When right financers
are approached, large grants can be secured for executing hotel operations.
Market and Location – While filing applications for hotel loans , it should be kept in mind
that the entrepreneur should inform the financer about the location of the business. Location is of
immense importance in hotel industry as revenue earnings of a motel depends on its location. So,
it is based on the location, that the financer would decide how much money can be awarded to an
establishment.
Property Condition – If the hotel is an old one then the loan amount obviously varies from the
one granted to a progressive motel. So, it very much depends on the age and condition of a
building. If the condition of a hotel is too bad then funds raised may not be very extensive.
However, it differs from a case to case basis. A lot depends on the location. For example, a hotel
located in a place that all of a sudden may have turned industrious, is more likely to find more
small business loans than the one that is situated in a less progressive place.
Full Service Motels – A motel that provides all types of services like dining, accommodation,
transport is more likely to receive full coverage of money. There is every possibility that such an
enterprise will become successful. Henceforth, they are awarded large sums of money. The grant
can be utilized to intensify operations and instill growth. It can be invested to launch new
projects within the organization and hence can earn more profits. Lenders are always found
willing to finance hotels that offer all kinds of services to visitors.

2. Extended Stays Hotels – A hotel that allows extended stays obviously can make more profits.
But it needs sufficient resources to do this. Also, it should have many employees to execute daily
operations. Lenders want to support such extended stay hotels and are always willing to grant
large sums of money for the purpose. It is required that business owners file loan applications on
time so that large funds can be awarded that is rewarding for an organization.
Submit Reports – It is vital for a hotel owner to submit environmental report, land survey report
and Appraisal report. It is very important for an organization to file such reports. Else, it may
lead to rejection of loan applications. The entrepreneur has to file reports so as to make the
financer more confident about lending business loans .
Other Qualifying Needs – An owner has to keep a record of good credit score. Additional
collateral may also be required for the purpose of procuring large grants. At times the lender may
also ask to make down payments. So, an entrepreneur will have to meet all requirements
demanded by financers. It is important to meet the lending standards for an entrepreneur to
receive grants instantly.