Restaurants and Hotels Business Loans
Businesses that operate within the hospitality sector often have significant fixed costs and as a result the hospitality market can be challenging, which is why at Elite Business Funding, we understand that having a reliable source of finance and cash flow is crucial to surviving in the market.
With over 25,000 restaurants and 45,000 hotels in the UK alone, the rising demand in the hospitality sector has grown significantly in recent years. In order to provide and supply the very best for your customers, we also understand the importance of accounting for the ‘quieter’ periods within the working year and ensure that the business can keep up with the latest trends. We have access to bespoke finance options that are designed to work with your business cash flow.
The Uses of a Restaurant or Hotel Business Loan
Our commercial finance brokers have extensive experience assisting restaurants, bars, hotels and B&B’s with their working capital needs. We understand that it can be difficult for businesses in the hospitality sector to obtain finance and working capital is the top reason why businesses within the industry fail.
Whether you are an experienced entrepreneur or are just getting started we have several tailored finance solutions available to assist you in growing your business, the below list outlines some of the uses we have provided Restaurant and Hotel business loans for:
- Purchasing new equipment such as kitchens and bars
- Refurbishment costs and repairs
- Marketing and promotional costs and new menu’s
- Stock and soft furnishings
- Seasonal cashflow loans with payback based on your takings
- Licencing fee’s
- Expansion, increasing covers and opening new sites
Why Businesses Within the Hospitality Industry Require Business Loans
Within the hospitality sector for both restaurants and hotels, seasonal fluctuations can occur that effects the cashflow of the business. The success of an organisation can depend on its ability to keep cashflow steady – whether it be for refurbishing your space or rooms, purchasing new kitchen or bar equipment obtaining a restaurant and hotel business loan can be beneficial both to keeping existing customers and to growing and increasing your custom base.
Businesses Which May Benefit from Restaurant and Hotel Business Loans
Over the years, we have provided funding solutions for businesses in the following sectors:
- Cafes & Restaurants
- Bars and nightclubs
- Travel agents
- Tour operators
- Event management companies
How Elite Business Funding Can Help You
As experienced commercial finance brokers at Elite Business Funding, we take great care in ensuring we source the best and most appropriate funding solutions for our clients. With the increase of business funding options, by speaking with one of our experienced advisors, we will look to find you a solution and repayment schedule that best fits with your business requirements.