Hospitality Loans & Equipment Financing

Financing for the Hospitality Industry.

From motels to hotels or even that Bed & Breakfast, First Capital Business Finance has a strong foothold and a wonderful track record for providing a wide variety of financial solutions that meet your business needs. These include unsecured working capital loans (add links), equipment financing, merchant processing and more.

Because of our special expertise in the hospitality industry, First Capital Business Finance is able to analyze your specific business needs and opportunities, maximizing the potential for the financing you will need for growth.

Expanding, Moving or Remodeling

It may be adding a new location or expanding your location or even remodeling your location.  Anywhere from updating the furniture & technology, adding more rooms or increasing your staff to attract more business. First Capital Business Finance has the ability to provide your company with the financing you need.

No matter what the future holds, First Capital Business Finance offers multiple funding programs so you can capitalize on new potential business. Your business can access between $5,000 and $5,000,000, without the aggravation and lengthy process that comes with dealing with the bank.

  • Less than perfect credit is not an issue
  • Collateral is not required on the majority of our programs
  • Flexible terms up to 60 months
  • Very minimal paperwork
  • Approvals are granted in as little as 24 hours
  • Excellent customer service

Learn more about our programs, and speak to one of our advisors to get prequalified. Call 888-565-6692.

How to Qualify for Unsecured Working Capital Loans

Qualifying for unsecured loans is easier than most business owners would expect, there is no collateral required. That means, no real estate, no equipment, no vehicles, no land is required to qualify for this type of loan. This type of funding is based on the cash flow of your company.

 

Credit Requirements

Credit requirements are more forgiving than a traditional loan from your local bank, you can have scores as low as 500 for most of these alternative funding programs. Most banks or credit unions typically like to see a minimum of 660 to 680 credit score from the business owners.

 

Proof of Income

If your business is depositing income into your bank account or if your business processes credit card transactions, there should be no reason why you wouldn’t qualify. We will typically look at your average monthly deposits, typically over the course of 3 to 6 months depending on your industry and time of the year. If you’re a seasonal business, maybe like some Bed & Breakfast companies that are located in areas where you might have fluctuations in revenue, you may need to provide 12 months bank statements. Tax returns are not always needed for our loans, especially for lower loan amounts. However, your traditional business loan from your bank or credit union will require 2 to 3 years tax returns. Not only would they need your returns, but they need to make sure the business is profitable. If your business has high expenses and if you’re showing a loss or break even on your returns, it’ll be very unlikely you would qualify with your bank.

 

Length of Time in Business

Have you been in business for 3 months? That is the minimum time in business we require for the majority of our programs, given you have made deposits in your bank for those three months. Majority of the time, banks will require a minimum of 2 years’ time in business before they can provide any working capital on their business loans.

 

 

Send in These Items to Get Approved

  1. Complete our one-page credit application
  2. Your last 4 months credit card processing statements (all pages)
  3. Your last 4 to 6 months business bank statements (all pages)

 

Yes, that’s all that is needed and we’ll get back to under 48 hours!

 

If you are not ready to submit your application, you can speak to one of our advisors and they can address any questions you might have.  Please call 888-565-6692