Wherever you go in Canada, there are hotels. These are the companies that keep Canada moving, its tourism industry thriving, and its businesses flexible and agile.
Of course, despite the importance of these hotels and motels, setting up this kind of business is not always easy. In fact, once the business is up and running, the costs can keep coming.
This is why funding for hotel and motel businesses is so crucial. And yet, sometimes, it is hard to come by.
At SharpShooter Funding, we have made it our mission to connect hotel and motel owners with the funding they need to really thrive in the market. Let’s take a look at what these business owners — business owners just like you — can expect.
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Hotel owners typically need funding at two stages of their development.
Firstly, there is the initial stage, when the hotel is just getting started and does not yet have the guests, bookings, and other revenue sources required to secure capital or to invest directly.
At this stage, hotel owners often need an extra push in the right direction. However, this can be difficult to achieve if they do not have high levels of collateral or a spotless credit rating. Mainstream funders are often simply not interested.
The second stage is after the hotel has opened, and now the owner is looking to expand. Steady profits in those early stages can now be translated into something more lucrative, providing that the hotel owner can gain access to the capital required.
The trouble is, mainstream providers are often not willing to take this gamble as it represents such a big step up for the hotel and for the business as a whole.
Fortunately, the team at SSF approaches things differently. Our funding products are provided with this kind of business in mind, and we work with you to offer you a funding package and repayment plan you can rely on.
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Motels operate in a very similar way to hotels. Both accept guests, and both must be kept in tip-top condition if they are to provide the service standard that guests expect.
However, the funding needs for motel businesses can be a little different from those of hotels. This is because of the far higher turnover of guests.
While people certainly visit hotels for just one night, most people book rooms and suites for a week or even longer. Motels, on the other hand, are almost exclusively for short, one or two-night stays. This means the rooms and facilities are constantly in a state of flux, leading to swift deterioration and damage.
This makes the upkeep of a motel more difficult and can lead to working capital shortfalls when high levels of maintenance are required.
Whether you operate a hotel or a motel, choose SharpShooter Funding and let us help you get the capital you really need.
We will work with you to understand your needs and then deliver you an array of options so you can pick the one that best suits your situation. We have a high approval rating of over 88%, and we make sure our entire process is painless, straightforward, and hassle-free.
Reach out to the team today or get started with our online application.