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A potential first-time motel owner in need of guidance for financing

recently have decided to follow through with my dream of getting in the hotel business. I figure that by starting out small, I can learn the ropes and eventually work my way up to owning a franchise hotel or something along those lines. My problem is I do not really have any idea where to start. I am not in the greatest financial position personally, not with horrible credit (credit score around 600), just not with a lot of income(full-time student transitioning into business owner) or liquid assets (looking to invest about 5k down). I am looking for motels in the range of 150k-350k because of that reason. I figure it would be easier to find financing that way. Does anyone have any suggestions on where I begin once I find my ideal property? In my financial situation would banks be hesitant to give me a loan? Are there options through the government that I could utilize? I thank everyone in advance for their help.

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Answers (7)
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Carson Grant Loan Company
Affordable Loans
Los Angeles County, CA

DO YOU NEED A LOAN TO START A BEFITTING NEW YEAR!!!!!!

Are you a business man or woman? Are you in any financial stress? Or do you
need money to start your own business?

Do you have a low credit score, and you will find it difficult to get loans
from local banks and other financial institutions? solution to your
financial problem is Dr. Carson Grant The Terms and Conditions are very simple
and considerate.You will never regret any thing in this loan transaction because i will
make you smile through out this transaction, because you where not born to be a loser

Email (carsongrantloanhome@gmail.com)

Our services include the following:

* Personal Loans
* Debt consolidation loans
* Possibility
* Business Loans
* Education Loans
* Mortgage
* Home Loans

We offer loans at 2% interest rate

We offer loans to people in need of financial assistant with a low interest
rate of 2%. In order to get a loan with this company, you can tell the exact amount of
loan you need and the time in which you can pay back the loan.

NOTE: You are required to email us on:(carsongrantloanhome@gmail.com)

Feb 12, 2017
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Carson Grant Loan Company
Affordable Loans
Los Angeles County, CA

DO YOU NEED A LOAN TO START A BEFITTING NEW YEAR!!!!!!

Are you a business man or woman? Are you in any financial stress? Or do you
need money to start your own business?

Do you have a low credit score, and you will find it difficult to get loans
from local banks and other financial institutions? solution to your
financial problem is Dr. Carson Grant The Terms and Conditions are very simple
and considerate.You will never regret any thing in this loan transaction because i will
make you smile through out this transaction, because you where not born to be a loser

Email (carsongrantloanhome@gmail.com)

Our services include the following:

* Personal Loans
* Debt consolidation loans
* Possibility
* Business Loans
* Education Loans
* Mortgage
* Home Loans

We offer loans at 2% interest rate

We offer loans to people in need of financial assistant with a low interest
rate of 2%. In order to get a loan with this company, you can tell the exact amount of
loan you need and the time in which you can pay back the loan.

NOTE: You are required to email us on:(carsongrantloanhome@gmail.com)

Feb 12, 2017
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Have you ever searched for funds, loans, financial assistance or need an accredited lender to help you meet up with your needs and demands? Do you want an Investment Loan for your business Or have your bank turned you down? Is your monthly income disappearing due to high interest rate on your Loans, Credit or Bonds? Then you have no alternative than to get an instant and reliable service. Contact us today at vhernan712@gmail.com for Legit/accredited Loans, Mortgages and Investment funds. For Quick application, Apply within; Full Name: Loan Amount needed: Loan Purpose: Loan Duration: Phone number: Address/Country:

Aug 17, 2016
Kenny Lugard
Living Rock Loan Investment, JOHANNESBUR
Loan offer
Saint Lawrence County, NY

Attention To The General Public,

Do you need a loan? if yes We offer loan at low interest rate of 2% and with no credit check, we offer Personal loans, debt consolidation loans, venture capital, business loans, education loans, home loans or "loans for any reason. However, Our method, offers you the chance to state the amount of loan needed and also the duration you can afford livingrockinvestment@outlook.com .

This gives you a real chance to get the funds you need! if interested contact via livingrockinvestment@outlook.com

Best Regards
Keny Lugards C.E.O
Living Rock Investment
Email:livingrockinvestment@outlook.com

Jul 16, 2016
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I'd like to speak with you. How can we contact you?

Sep 29, 2009
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5,000 dollars to buy any business is not even considered. sba loan cost 2 percent of loan amount as a guarntee fee. appraisal can cost about 5,000. closing cost is abot 5,000 dollars. utility services such as water, electricity,gas,cable, phone require deposites for commercia acounts. you'll need 5,000 for that. you'll need 5,000 in hand to operate business. 30 percent down payment is required.

Sep 22, 2009
Brian Butler
Butler Consultants LLC
Owner / Lead Financial Modeler
Washington County, OR

I always think people should have a business plan or at least financial projections. You can either do it yourself with something like business plan pro or you can contact a consultant to have them help you write it. I have included a sample template for a business plan below.

Sep 21, 2009

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