7 Best Hotel Loans for 2023

The best hotel financing options will have low rates, flexible loan terms, and good customer reviews. Lenders may also allow you to use the funds for a variety of purposes, such as purchasing, renovating, or covering other costs associated with the building. Since the best loan will depend on your specific circumstances, we’ve selected lenders offering different types of loans. These include commercial real estate (CRE) mortgages, Small Business Administration (SBA) loans, hard money loans, and equipment financing.

Here are the seven best hotel financing options for 2023:

  • Lendio: Best overall for multiple financing options
  • US Bank*: Best conventional lender for commercial loans
  • Kiavi: Best for smaller short-term financing options
  • Avana Capital: Best commercial bridge loan for hotels
  • TMC Financing: Best for industry expertise in hospitality and SBA 504 loans
  • Smarter Finance USA: Best for equipment financing
  • Bluevine: Best small business line of credit

*Provider is geographically limited. View US Bank’s geographic limitations to see if your business is in an area served by the bank.

Best Hotel Loans at a Glance

Lendio: Best Overall for Multiple Financing Options

US Bank: Best Conventional Lender for Commercial Loans

Kiavi: Best for Smaller Short-term Financing Options

Avana Capital: Best Commercial Bridge Loan for Hotels

TMC Financing: Best for Industry Expertise in Hospitality & SBA 504 Loans

Smarter Finance USA: Best for Equipment Financing

Bluevine: Best Small Business Line of Credit

How We Chose the Best Hotel Financing Companies

Here are the following factors we considered in selecting the best hotel financing providers:

  • Interest rates and estimated APR
  • Loan terms such as loan amount and repayment period
  • Qualification requirements such as time in business, credit score, and revenue
  • Funding speed
  • Industries served
  • Types of loans offered
  • Customer reviews and ratings
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Alternatives to Hotel Loans

Since funding a hotel can be a complex process involving different categories of expenses, you may need to consider multiple types of loans to find one best suited for those costs. We’ve presented options above for several loan types, including SBA loans, hard money loans, equipment loans, bridge loans, and a small business line of credit.

If you’re having trouble getting approved or want to explore rates and terms available for other loans, here are some alternatives you can consider:

  • Rollover for business startups (ROBS): A ROBS is not a loan, so this is a good option if you don’t want to pay interest fees. It allows you to access your retirement accounts tax- and penalty-free for business purposes. You can read our guide on how a ROBS works to learn more about whether it could be right for you.
  • Personal loan for business purposes: If you don’t need a large amount of funding, a personal loan could give you a more competitive rate than a business loan. See our recommendations for the best personal loans for business funding.
  • Loans from friends or family: Compared to bank loans, you can often get a lower interest rate by borrowing money from friends and family. Head over to our article for tips on how to ask friends and family to fund your business.

Bottom Line

Each of the lenders listed above provides competitive rates and excellent customer service. Since hotel financing can be complex, our guide also includes different types of loans, so you should be able to find one well-suited to your needs. As always, we recommend contacting multiple lenders to ensure you’re getting the best rates possible.

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