Everything a small business needs to know about raising finance and paying it back

Fancy investing in staff training, renovating rooms, or even adding that new indoor pool and spa you always dreamed of? You’ll probably need extra cash to make it possible.

Your hotel’s decor, website, and experienced team are all handpicked by you, so it’s only natural you’d be just as choosy about who you raise finance with.

Capify’s hotel loans are really simple, with flexible payments and fast approval. Repayments will change depending on how much cash comes into your business, helping to keep your cash flow nice and healthy.

The latest hotel growth stats

The latest hotel growth stats

It’s good news! The UK Hotel Development Opportunities 2018 report shows the UK’s hotel industry keeps on growing.

15,200 new hotel rooms in 2017
21,000 more new hotel rooms predicted for 2018
70% growth in new London-based hotels (that’s 4,100 new rooms)
Most attractive cities for new hotels – Inverness, Brighton, Edinburgh, Cardiff and Liverpool

Who are hotel loans for? You!

Any kind of hotel business can benefit from a loan from Capify. Loans for hotels are ideal for rural B&Bs, city centre business hotels, spa destinations, and more. It doesn’t matter how many rooms you have to fill, or how many stars you’ve got, you could still qualify for simple, fast finance.

Most importantly, a hotel loan is for a business keen to grow. That includes refurbishment, faster tech, top notch skills training, and more.

Get more 5-star reviews

Hospitality’s a tough industry, so it’s important to stand out. If you need cash to make improvements, there’s no time like the present.

Whatever you’ve got going for you – a stunning view or a city centre locale – you can develop it with funding and create loads more happy TripAdvisor reviews.

Different types of hotel finance

Different types of hotel finance

Not all loans are created equal. Capify offers business loans and finance options designed specifically for hospitality businesses, just like your hotel.

Secured business loans

These business loans are secured against a vehicle, property, or some kind of high-value equipment. This will cover repayments if you can’t.

Unsecured business loans

The opposite of a secured loan. Your vehicles, equipment, and property will stay yours! This is the better option for a lot of hotel owners because there’s a bit less risk involved.

Merchant Cash Advance

This unique alternative finance option is really simple and easy to pay off (which is what most hotel owners are looking for).

You’ll get a lump sum, and then repay it through a small percentage of your customers’ debit and credit card payments. Every time someone checks out, or buys a round in the bar, you’ll be closer to paying off your business loan.

Other finance options

Government grants, overdraft, credit cards, and asset finance. Interest rates can be high though, so always look around for the best deal before you commit!

Calculate how much finance your hotel could raise

Calculate how much finance your hotel could raise

The Capify business loan calculator shows how much finance you can raise for your small business.

Find out how much cash your hotel could get!

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£5,000 £250,000
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How hotel businesses can use their finance

How hotel businesses can use their finance

Like a lot of hospitality businesses, hotels are always competing and trying to impress every new guest. Here’s how you can keep up with the big chains and get people to rebook again and again.

Better booking tools

Help your guests find you online, book quickly, and check-in with no problems. They’ll thank you for it! 

Renovate rooms and reception

New fixtures and fittings, linens, towels, mattresses, fancier TVs – it all makes a big difference.

Update the kitchens

Become famous for your breakfast as well as your beds. Your staff will be able to prepare even better grub with less time and effort.

Attract the wedding planners

Weddings are massively profitable for hotel owners. Improve your Big Day bookings with stunning function rooms and photo opportunities at every turn.

Getting your hotel ready for funding

Before you apply for a hotel business loan, there are a few things to think about.

Decide what you’re going to pay for. Having a plan stops you from over or under borrowing.

Check your business credit rating. The higher it is, the more likely you are to be approved.

Get all your paperwork sorted. This makes sure the application goes through as fast as possible.
Choose a loan company you want to work with.
To keep things stress-free, go with a company you trust and get great service from.

Fixed & flexible repayment options

Fixed & flexible repayment options

Most loan repayments are either fixed or flexible. It’s up to you which you go for.

A fixed monthly payment can be more reliable, because you know exactly what you’ll be paying every month. Hotels can be seasonal businesses though, so paying a big monthly payment might not work that well for you 12 months of the year.

Flexible repayments can be easier for hotel owners to manage, because they change as your business earns cash. If summer means jam-packed bookings, but the new year is often slow, flexible finance means you repay less during the quiet periods and more while you’re busy.

Loans for hotel businesses with poor credit

Missed a few payments in the past? It doesn’t have to mess up your future finance.

Capify’s small business loan can work for hotel business with all kinds of credit profiles and backgrounds. A lot of small businesses have a varied credit report, maybe with the occasional late payment. It’s hard to be perfect all the time.

Whether your credit is spot on, or a little bit shaky, Capify can usually help. To find out if you’ll be eligible, just get in touch with one of our friendly advisers.

Hotel in a hurry? Get fast finance

Hotel in a hurry? Get fast finance

If you want to get renovation done and dusted before next year’s wedding season, or you’re dying to update the website so people can book online ASAP, you’ll need the cash sooner rather than later.

Capify can often send you cash within days of your application going through. That means you can start making improvements in a few days, instead of hanging around waiting for approval.

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Short term vs long term finance

Do you want to pay your business loan off as soon as possible, or make it more of a long term commitment?

A short term loan will be paid off quickly, but the regular payments are usually more expensive. A long term loan is often repaid more slowly, generally with smaller regular payments. It’s up to you whether you want to clear the debt more quickly or not.

Just like flexible and fixed payments, this depends on how seasonal your hotel is too. By choosing a short term loan, you could get your repayments done and dusted during the most profitable times of year, making sure the slow periods stay debt-free.

Raise £3,500 to over £500,000 for your hotel. Start making big improvements to your hotel business.

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