Owning a hotel or bed and breakfast is an attractive business prospect for many people. When running a hotel or B&B you are likely to be interacting with customers from all walks of life and from many different locations, making this a varied and interesting career choice.
However, to get your business off the ground, you need the right kind of funding. Purchasing a property and possibly renovating to provide suitable accommodation is often an expensive task, but it is necessary to spend money to make money. We can assist you with all your concerns when it comes to B&B and hotel finance, giving you the best chance of finding the loan or mortgage you require from the right lenders.
When clients come to us to secure funding for their bed and breakfast, they can be fully assured that we have a whole host of experience working with many clients on a diverse range of businesses. We have several case studies that highlight how efficient our services are.
Lawrenny Lodge, an acclaimed bed and breakfast in Barmouth overlooking Cardigan Bay, was able to start up thanks to our team allowing the owners to secure funding for a larger business concern. We secured funding from a lender who understood the seasonal nature of the trade, thus ensuring that the owners were funded by a company with a full understanding of their business, so they received a funding solution that was perfectly tailored for their needs. We also managed to source additional debt via equity release on the owner’s residence to make for a bank debt at 70% LTV.
We also secured finance for Sherwood Guest House, a seafront property operating as an AA 4 star guest house. Based on the owner’s financial requirements, and analysing the advantages and disadvantages of various financial options, we managed to find the right funding for the new owners of the Sherwood Guest House. Most recently, we helped with the funding of Glenshieling House. We produced realistic business projections alongside assessing the potential of the trade, helping them to make the business profitable. A full debt proposal was created and subsequently submitted to lenders, and funding was agreed.
We excel at helping businesses to secure hotel finance and funding in the property sector, and we can help you to achieve your financial goals regardless of how large or small the potential business is. With our help, finding funding becomes significantly easier for our clients, and we stand by them through every step of the process. When you decide to work with us, you can be completely assured that you are receiving help from the professionals.