Top 25 Banks for Hotel SBA Loans

Recent hotel loan inquires…

 

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Last quarterly update: Oct 1, 2020

According to Ibis World, there are 74,372 hotels, and the hotel industry generated $166.5 billion in revenue in the United States alone last year. This represents an annual growth rate of 4.7% over the past 5 years. Industry profits were $26.0 billion, and wages paid to hotel employees totaled $42.7 billion. Given that, there is no doubt that hotel is one of the fastest growing in the hospitality industry. So, if you’re planning to build your own, allow us to help you find the best bank to help you start.

 

Top Flags receiving SBA Hotel Loans 

HotelAverage Loan# of LoansRateAvg TermTop States
Flagged Hotels$2,618,3085576.8%291
Unflagged Hotels$1,721,9362477.0%290
Motel 6$2,789,847536.6%297California, Texas
Quality Inn$2,756,800496.9%297Texas, Indiana
Days Inn$2,507,037437.0%297Colorado, Ohio
Red Roof Inn$2,483,183357.0%290Pennsylvania, Ohio
Super 8$2,051,006356.7%297Colorado, New York
Best Western$3,355,333336.6%299Texas, New York
La Quinta Inn$3,406,993296.6%275Texas, Georgia
Baymont Inn & Suites$2,333,710296.7%289Colorado, California
Econo Lodge$1,753,644256.9%291Georgia, South Carolina
Comfort Inn$2,680,996236.9%260Ohio, Virginia
Rodeway Inn$1,880,822236.8%299Florida, Georgia
Travelodge$1,727,794176.7%283Texas, Georgia
Ramada$3,316,786146.9%303Florida, Indiana
Americas Best Value Inn$1,625,315136.7%300Texas
Holiday Inn Express$4,082,442126.8%304Texas
Sleep Inn$2,798,210107.0%282Georgia
Knights Inn$1,576,14497.2%300
Country Inn & Suites$3,842,53887.2%302South Carolina
Clarion$2,213,47587.3%279
Wingate by Wyndham$2,533,57176.9%301Mississippi, Ohio
Comfort Suites$2,131,42976.6%252Texas
Hawthorn Suites$3,878,16766.7%301Ohio
Hampton Inn$2,867,96766.5%270Tennessee
SureStay$2,487,00056.9%301Georgia
Microtel Inn & Suites$1,708,80056.9%274North Carolina

 

Most active SBA banks for hotels

1) Bank of George — LAS VEGAS, NV
2019: 48 loans, $1,720,252 average loan, average interest rate 6.0%

Bank of George is distinguished as an “SBA Preferred Lender.” As a leader in SBA Lending, they are able to provide a quicker, more streamlined process for their borrowers. By providing an attractive alternative to conventional loans, this bank helps small businesses grow by offering longer amortizations, lower equity contributions and flexible terms.

2) NOA Bank — DULUTH, GA
2019: 45 loans, $1,583,700 average loan, average interest rate 5.9%

With more liberal repayment terms and collateral requirements than conventional loans, NOA Bank offers SBA loans, small business customers the financing they need, as well as the necessary flexibility. NOA Bank can definitely help your business grow by providing the financial assistance you need.

3) The MINT National Bank — KINGWOOD, TX
2019: 39 loans, $1,558,197 average loan, average interest rate 6.1%

With more liberal repayment terms and collateral requirements than conventional loans, NOA Bank offers SBA loans, small business customers the financing they need, as well as the necessary flexibility. NOA Bank can definitely help your business grow by providing the financial assistance you need.

4) First Western  — Dallas, TX
2019: 38 loans, $2,040,053 average loan, average interest rate 6.3%

With more liberal repayment terms and collateral requirements than conventional loans, NOA Bank offers SBA loans, small business customers the financing they need, as well as the necessary flexibility. NOA Bank can definitely help your business grow by providing the financial assistance you need.

5) Pacific Premier Bank — IRVINE, CA
2019: 37 loans, $2,456,995 average loan, average interest rate 5.8%

Pacific Premier Bank offers Small Business Administration (SBA) and other government guaranteed programs on a national basis to give entrepreneurs and small business owners access to the funds they need. As a nationwide SBA Preferred Lender, they offer expedient loan decisions and a streamlined application process. Their experienced and local business development officers will work with you to find the right programs and loan structure to meet your goals and objectives.

6) Bank of Hope — LOS ANGELES, CA
2019: 36 loans, $2,661,725 average loan, average interest rate 5.3%

Bank of Hope has carved out a niche in hotel SBA loans, ranking #1 overall on our list. Headquartered in LA, Bank of Hope specializes in financial services for the Korean-American community. It’s no surprise that Bank of Hope is # 1 for hotel SBA lending as they are the lowest cost lender on our list as well.

 

7) Commonwealth Business Bank — LOS ANGELES, CA
2019: 33 loans, $1928,388 average loan, average interest rate 5.6%

Being committed to providing exceptional services for the success of our customers, CBB is experienced in simplifying the lending process to better meet each customer’s specific needs. We are a member of the Preferred Lenders Program (PLP).

To help you further on your search, here is a complete list of the top banks for hotel and motel small business SBA loans:

 

RankBankCityState# of LoansAvg Loan $Avg Int
1Bank of GeorgeLas VegasNV53$2,621,8306.7%
2NOA BankDuluthGA47$2,160,1916.6%
3Bank of HopeLos AngelesCA45$1,761,4336.8%
4Open BankLos AngelesCA34$1,616,5216.7%
5Celtic BankSalt Lake CityUT33$2,161,0487.5%
6Readycap Lending, LLCBerkeley HeightsNJ32$1,880,0946.7%
7Seacoast Commerce BankSan DiegoCA28$2,131,1756.5%
8Poppy BankSanta RosaCA24$2,571,6007.4%
9United Midwest Savings BankDe GraffOH20$2,404,8706.9%
10First Western SBLCDallasTX19$2,078,7117.2%

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