There are a number of advantages to be had from working with finance providers with extensive experience of the hotel industry.
They understand the specific challenges associated with management of a hospitality venue, such as variations in revenue due to seasonality of trade.
A major benefit of having the right finance in place is that it provides the basis for growth. The funds can give you the budget to grow your business into more lucrative markets, through improving the quality of service and presentation of your venue. The UK hospitality industry offers huge opportunities, even with the recent disruption of the global pandemic.
While many lenders prefer to work with businesses that have a strong credit rating, it is often possible to secure a loan without having it. This usually comes down to having a strong business plan, a current positive credit situation and approaching the right providers.
Am I eligible for hotel finance?
Every provider of business finance has their own criteria for deciding who they will lend to, how much and on what terms.
The basics they usually look for include:
Minimum turnover of £100k.
At least 2 years of trading history.
No County Court Judgements.
Positive credit history.
Business is registered in the UK.
It helps if one of the directors is a homeowner, and that the business boasts a positive balance sheet.
However, if you don't meet some of these criteria there are other funding options available. We help business owners navigate through issues such as a poor credit record or needing finance in a hurry because of unexpected changes in circumstances.
How we help business owners secure hotel finance
The team at JD Capital Finance is committed to helping hospitality entrepreneurs move their business ideas and plans forward, through having access to the right finance.
Our role, as a finance broker, is to be your funding expert as you prepare to make investment in your future. Because taking on finance is an investment - you're raising money to put to work now, in order to generate future revenue and profits.
As brokers, we work with around 250 different finance providers, each with their own variety of lending products. Using our knowledge and experience, we match you with the provider we believe will be the best fit for your circumstances.
Through the entire process, you work with a designated member of our specialist finance team, ensuring continuity of communication. They stay alongside you, every step of the way, until the funds are in your bank account.
If you're in the hotel or hospitality industry and would like to know how much you could borrow, and on what terms, we can help you find out, fast. Get in touch with one of our team today.
As a founder of multiple businesses, Jamie believes that mindset, discipline and ambition are key drivers for success, both for his businesses and for his clients.
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The first steps towards the funding your business deserves
Disclaimer: JD Capital Finance (Registered office -First Floor, Steeple House, Church Lane, Chelmsford, England, CM1 1NH, Registered Number 10128297) helps UK firms access business finance, working directly with businesses and their trusted advisors. We are a credit broker and do not provide loans ourselves. All finance and quotes are subject to status and income. Applicants must be aged 18 and over and terms and conditions apply. Guarantees and Indemnities may be required. JD Capital Finance can introduce applicants to a number of providers based on the applicants’ circumstances and creditworthiness. JD Capital Finance may receive a commission or finder’s fee for effecting such introductions.