Recent hotel loan inquires…
$3.2M Independent Hotel Refi - New York
Last quarterly update:
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
| Hotel | Average Loan | # of Loans | Rate | Avg Term | Top States |
|---|---|---|---|---|---|
| Flagged Hotels | $2,618,308 | 557 | 6.8% | 291 | |
| Unflagged Hotels | $1,721,936 | 247 | 7.0% | 290 | |
| Motel 6 | $2,789,847 | 53 | 6.6% | 297 | California, Texas |
| Quality Inn | $2,756,800 | 49 | 6.9% | 297 | Texas, Indiana |
| Days Inn | $2,507,037 | 43 | 7.0% | 297 | Colorado, Ohio |
| Red Roof Inn | $2,483,183 | 35 | 7.0% | 290 | Pennsylvania, Ohio |
| Super 8 | $2,051,006 | 35 | 6.7% | 297 | Colorado, New York |
| Best Western | $3,355,333 | 33 | 6.6% | 299 | Texas, New York |
| La Quinta Inn | $3,406,993 | 29 | 6.6% | 275 | Texas, Georgia |
| Baymont Inn & Suites | $2,333,710 | 29 | 6.7% | 289 | Colorado, California |
| Econo Lodge | $1,753,644 | 25 | 6.9% | 291 | Georgia, South Carolina |
| Comfort Inn | $2,680,996 | 23 | 6.9% | 260 | Ohio, Virginia |
| Rodeway Inn | $1,880,822 | 23 | 6.8% | 299 | Florida, Georgia |
| Travelodge | $1,727,794 | 17 | 6.7% | 283 | Texas, Georgia |
| Ramada | $3,316,786 | 14 | 6.9% | 303 | Florida, Indiana |
| Americas Best Value Inn | $1,625,315 | 13 | 6.7% | 300 | Texas |
| Holiday Inn Express | $4,082,442 | 12 | 6.8% | 304 | Texas |
| Sleep Inn | $2,798,210 | 10 | 7.0% | 282 | Georgia |
| Knights Inn | $1,576,144 | 9 | 7.2% | 300 | |
| Country Inn & Suites | $3,842,538 | 8 | 7.2% | 302 | South Carolina |
| Clarion | $2,213,475 | 8 | 7.3% | 279 | |
| Wingate by Wyndham | $2,533,571 | 7 | 6.9% | 301 | Mississippi, Ohio |
| Comfort Suites | $2,131,429 | 7 | 6.6% | 252 | Texas |
| Hawthorn Suites | $3,878,167 | 6 | 6.7% | 301 | Ohio |
| Hampton Inn | $2,867,967 | 6 | 6.5% | 270 | Tennessee |
| SureStay | $2,487,000 | 5 | 6.9% | 301 | Georgia |
| Microtel Inn & Suites | $1,708,800 | 5 | 6.9% | 274 | North 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:
| Rank | Bank | City | State | # of Loans | Avg Loan $ | Avg Int |
|---|---|---|---|---|---|---|
| 1 | Bank of George | Las Vegas | NV | 53 | $2,621,830 | 6.7% |
| 2 | NOA Bank | Duluth | GA | 47 | $2,160,191 | 6.6% |
| 3 | Bank of Hope | Los Angeles | CA | 45 | $1,761,433 | 6.8% |
| 4 | Open Bank | Los Angeles | CA | 34 | $1,616,521 | 6.7% |
| 5 | Celtic Bank | Salt Lake City | UT | 33 | $2,161,048 | 7.5% |
| 6 | Readycap Lending, LLC | Berkeley Heights | NJ | 32 | $1,880,094 | 6.7% |
| 7 | Seacoast Commerce Bank | San Diego | CA | 28 | $2,131,175 | 6.5% |
| 8 | Poppy Bank | Santa Rosa | CA | 24 | $2,571,600 | 7.4% |
| 9 | United Midwest Savings Bank | De Graff | OH | 20 | $2,404,870 | 6.9% |
| 10 | First Western SBLC | Dallas | TX | 19 | $2,078,711 | 7.2% |