SBA 7(a) Loans Offer Flexible Financing for Hotel Renovations Up to $5 Million with 85% SBA Guarantee
💵 SBA 7(a) loans offer flexibility for hotel renovations, with up to $5 million available over 25 years for real estate and 10 years for equipment. Rates range from 10-11%, with an 85% SBA guarantee. SBA 504 loans are suitable for fixed asset projects, offering rates of 6-7% for 20-25 years. Conventional loans close quickly but require strong credit and 20-25% equity. Bridge loans, with rates of 9-12%, suit transitional properties, while revenue-based financing suits smaller upgrades but costs 25-30%.
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