Finance your business’s future
Your hospitality business is so much more than simply a restaurant or hotel: It’s a place to gather, a setting for celebrations, and an anchor in your community. And with the right plan and the right funding, you can unlock everything you need to achieve your vision.
Whether you’re looking to buy the equipment you need for your restaurant’s kitchen, renovate your bed and breakfast and improve your guest rooms, or expand the seating in your cafe and hire new part-time staff members, Pursuit has what you need to fund your ambition.
Fund your hospitality business with Pursuit
You have the ambition and heart to work towards your goals. We’ll be there with lending solutions and resources to help your hospitality business get funded.
When you start an application online or by phone, we’ll work with you one-on-one to find the program that best fits your financing needs.
When you work with Pursuit, your hospitality business will benefit from:
- Business loans starting at $10,000 and in excess of $5.5 million
- A wide variety of loan products to serve hospitality businesses at any stage
- Fast funding: some loans can be funded in as little as 5 business days
- Responsible and flexible requirements
- Guidance every step of the way from a team dedicated to your success
Ready to apply? Before you do, be sure to check out these tips to ensure you get the right funding for your hospitality business.
First, ask yourself the following questions:
- How will you use your loan?
- What do you need to purchase or upgrade to deliver the ideal guest experience?
- What type of team support will you need along the way?
- How will you get the word out to guests?
Having clear answers to these questions will help determine how the funds will be used, and ultimately, how much you’ll need to borrow. Examples of loan uses may include:
- Purchasing, building or renovating a physical property
- Improving furnishings, fixtures and lighting
- Buying or upgrading kitchen, bar, maintenance or other equipment
- Investing in technology
- Hiring and paying staff
- Marketing and advertising
Next, you may want to prepare a business plan if you haven’t already. It’s beneficial to have, but not always required.
In it, you should outline what needs your business fills in the hospitality industry, details about your target market, a competitive analysis, and of course–your financials. If your business is already established, these will be actual, while startups will need to include projections.
If you have a lodging business, include information about occupancy rates, daily room rates and any cycles that you’ve factored in, such as seasonal ups-and-downs.
If you have a food and beverage business, include key financial information such as your average check price, seating capacity and daily table turnover.
Examples of how hospitality businesses have grown with Pursuit
Pursuit exists to help businesses like yours succeed. Discover how other hospitality businesses have benefitted from working with Pursuit and how yours can, too.