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Small Business and SBA Lending Blog
Last updated on Feb 19, 2023
2 min read

Using the SBA 7(a) for a Motel

When you’re looking for an SBA lender, it’s important to find one who specializes in motels. Motels have unique underwriting procedures. Because they're often seen as high-risk, make sure you’re getting the best possible loan terms from your SBA lender.

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When you’re looking for an SBA lender, it’s important to find one who specializes in motels. Motels have unique underwriting procedures, different from hotels and other businesses in hospitality. Because motel businesses are often seen as high-risk, you’ll want to make sure you’re getting the best possible loan terms from your SBA lender.

That’s where SBA7a.Loans comes in. We have over 20 years of experience in capital markets, and we have strong relationships with lenders in the motel industry. We can help you get the funding you need for:

  • Refinancing a business mortgage. If your current terms are less than ideal, an SBA 7(a) loan can help you refinance. Read this article to learn more

  • Opening a new location. Growing businesses can benefit greatly from the value of an SBA 7(a) loan.

  • New construction of a motel. We’ll help you get the financing you need to build your new motel site from the ground up.

Also Check Out: Using the SBA 7(a) for a Hotel

An SBA loan can also help you with other expenses, like working capital, equipment, and repairs at your current location. Beyond the SBA 7(a), there are other loan products we can recommend to help you meet your goals. Don’t wait to take the next step for your business; see how an SBA loan can help you thrive.

To learn more about the SBA 7(a) loan program or to Apply for a free quote, simply click the button below!

Related Questions

What are the requirements for a motel to qualify for an SBA 7(a) loan?

To qualify for an SBA 7(a) loan, a motel must meet certain standards. These include:

  • Good bookkeeping
  • Understanding of creditworthiness
  • Solid business plan
  • Meeting the eligibility and qualifications for the SBA 7(a) loan

What are the advantages of using an SBA 7(a) loan for a motel?

The SBA 7(a) loan is a great option for motels because it offers a number of advantages. These include:

  • Low down payment requirements
  • Long repayment terms
  • Flexible interest rates
  • No collateral required
  • No prepayment penalty

For more information on the SBA 7(a) loan for motels, please see this article.

What are the eligibility criteria for a motel to receive an SBA 7(a) loan?

To qualify for an SBA 7(a) loan, a motel must meet certain standards. These include:

  • Good bookkeeping
  • Understanding of creditworthiness
  • Solid business plan

In addition, the motel must be an eligible business opportunity according to the SBA 7(a) guidelines. Hotels, motels, and B&Bs are all eligible for SBA 7(a) loans.

For more information, please see Eligibility and Qualifications for the SBA 7(a) Loan and Eligible and Ineligible Industries for SBA 7(a) Loans.

What documents are required to apply for an SBA 7(a) loan for a motel?

To apply for an SBA 7(a) loan for a motel, you will need to provide the following documents:

  • Business plan
  • Financial statements
  • Personal financial statements
  • Tax returns
  • Business and personal credit reports
  • Collateral documents
  • Lease agreements
  • Business licenses

You can find more information about the eligibility and qualifications for the SBA 7(a) loan here.

What is the maximum loan amount for an SBA 7(a) loan for a motel?

The maximum loan amount for an SBA 7(a) loan for a motel is $5 million. The SBA guarantees up to 85% of the loan, based on the loan amount.

Real estate and land loans for new construction or for the purchase of existing buildings have a maturity of no more than 25 years. Equipment and working capital loans have a loan term of 10 years.

Helpful Resource: Using the SBA 7(a) Loan for Land or Real Estate

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