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Hotel or bed & breakfast business loans
Our hotel business alternative loan product is an ideal solution for any hotel business that is seasonally dependant or has fluctuating cash-flow. Hotels and Bed & Breakfast guest houses work perfect with a business cash advance. This is due to the repayments are always entirely in sync with your hotel businesses monthly performance.
A business cash advance is an unsecured injection of working capital into your hotel business this is based on future credit and debit card sales. It’s repaid via a pre-agreed percentage of about 7% per every future card transaction.
Hotel financing with merchant cash advance
PDQ Funding has assisted and supported hotel owners with fast and flexible short term finance for their business. Hotel’s and Bed & Breakfast Guest House have both benefitted by using a merchant cash advance.
In 2019 hoteliers accounted for a fifth of our clients. As a result we have seen a 36 per cent growth in hotel sector in the last 12 months.
Merchant cash advance’s are not the same as a business loan. It is an advance on the money your business is predicted to generate in credit card and debit card transactions. Your Hotel or B&B business will receive an cash injection, which you then repay simply, using a small pre-agreed percentage of your future customer card sales. As your industry is seasonal your repayments are reduced in your slower periods, due to your takings being down. With flexible repayments our funding always be suitably in sync with your business cash flow.
Merchant cash advance has supported our clients for a number of years for the following uses:
Soft furnishings and furniture
Refurbishment and repairs
Staff hiring & training
Promoting your latest events
Upgrading rooms and carrying out repairs
Purchasing stock, drinks, food, crockery and glassware
Immediate cash flow
Business Cash Advance for a hotel is an alternative to a bank loan
Unlike traditional bank loans which have fixed monthly payments, a business cash advance repayments are directly linked to your hotel card takings. The repayment of the advance only happens when the business makes a card sale. Cash advances are unsecured meaning your home is safe as no personal guarantees are required.
Application takes minutes for £5,000 -£200,000
You pay back only when you make a sale – there are no fixed monthly payments
100% of your cash income is safe
One clear cost per transaction
No hidden fees, charges or penalties.
Over 80% of businesses are approved for a business cash advance loans no credit check. The application process is simple and easy to complete with minimal paperwork and no accounts required
Bed & Breakfast Business Loans
Business loans for Bed & breakfast and Hotel are not always easy to come by. Most hospitality professional turn to their bank, most times this tends to lead to disappointment with the outcome of their application.
The following challenges are faced when applying for business loans in the hotel and bed & breakfast sector:
In some instances, additional security / debenture may be required
The business plan needs to be meticulous and thorough
Lenders feel more comfortable financing individuals with industry experience
An excellent credit score is required
You can expect your bank to turn you away if you are unable to meet requirements. Don’t worry we have an alternative financing options available to you. PDQ Funding provide a variety of financing options that are ideal for the hotel, bed & breakfast sector
Applying for a Business Cash Advance with PDQ Funding
Click on the application page. To ensure we match you with the best lender, we will ask for more information about your business. Please be ready to tell us:
- Your business trading name
- Your average monthly card sales
- The amount you are looking to borrow for your expansion plans
You will then be directed to the next step, where you will be required to disclose:
- Your title, first name and surname
- Your position in the business
- Your email and telephone number
Click to accept the terms and conditions and click ‘get a quick quote’. From here your application will be processed and reviewed by one of our approved business finance suppliers.
One of our account managers will be in touch by phone or email to discuss the terms of your loan or advance agreement.
After reading the terms of conditions & agreement, please sign the relevant documentation and return to the lender. Funding will be available in your account in as little as 48 hours