Eaglerun Business Loans helps Elizabethtown, Kentucky hotel and motel owners request term loans, equipment financing and working capital from funding partners for furniture, fixtures and equipment. Hardin County, KY had 30 traveler accommodation employers in 2023 (County Business Patterns).
At a glance
- Traveler accommodation, Hardin County, KY
30 employer establishments, 526 paid employees (CBP 2023)
- Hotels (except casino hotels) and motels
30 employer establishments (CBP 2023)
- Traveler accommodation in ZIP 42701
20 (ZBP 2023)
- Lodging annual payroll, Hardin County, KY
$10.8 million (CBP 2023)
Hotel Renovation Financing: How an Elizabethtown, KY Owner Pays for HVAC Units
Packaged terminal air conditioners, the through-the-wall PTAC units in most motel rooms, wear out on a cycle and are replaced in batches. Each unit is a piece of equipment with a model number and a price, so a batch replacement fits equipment financing with the units as security. Ask the supplier whether the quote includes sleeves, controls and disposal of the old units.
Hotel Business Loan for Elizabethtown, KY Hotel and Motel Owners: Room FF&E and Lobby Refreshes
Furniture, fixtures and equipment, known as FF&E, covers beds and headboards, case goods, seating, lamps, televisions, drapes and carpet. A full room refresh mixes items that last many years with items that last a few, which is why many owners pair a term loan for the whole refresh with equipment financing for the costliest units.
Illustration only, invented figures: a 32-room motel refreshing every room at $5,625 a room spends $180,000 (our arithmetic). Financed at an invented annual rate of 10% over 84 months, that comes to about $2,988 a month, with payments totaling about $251,010, or about $93 a month per room (our arithmetic).
Business Loans for Hotels in Elizabethtown, KY: Paying for Brand Upgrades
A branded property can face a required renovation, known as a property improvement plan, when the franchise is renewed or the property changes hands. The plan lists what must be replaced and by when, and that document is the heart of the funding request. Partners read the plan, the cost estimates, the property's occupancy and room revenue by month and the franchise agreement's terms.
Commercial Loan for Hotel Around Elizabethtown, KY for Hotel and Motel Owners Buying HVAC Units
Beyond the rooms, lodging properties buy larger mechanical items: rooftop units for the lobby and corridors, boilers or water heaters, and commercial laundry machines. Those are equipment purchases too, usually on longer terms than room PTACs. A request that lists each item with its age and its replacement quote lets a partner see what is urgent and what can wait.
- Occupancy and room revenue by month for two or three years.
- The franchise agreement and any improvement plan.
- Quotes for each item, with installation shown separately.
- The mortgage statement, to show the existing debt.
Small Business Loan for Hotel: Covering Lobby Refreshes in Hardin County, KY
A lobby refresh, with new flooring, a front desk, breakfast area seating and lighting, is the first thing a guest sees and often a brand requirement. It is mostly an improvement to the building, which points to a term loan rather than equipment financing.
All 30 traveler accommodation employers that County Business Patterns counted in Hardin County, KY for 2023 fall in the hotels and motels category, with 526 paid employees and $10.8 million in annual payroll (County Business Patterns). ZIP 42701 held 20 of them, and 8 of the county's 30 had fewer than five employees.
Buying a Running Hardin County, KY Motel: The Business Side of the Price
When a motel changes hands, the price covers the land and building, the room furniture and equipment, and the business itself: its bookings, its brand or independent reputation and its staff. The real estate side is a commercial mortgage, outside this site. A term loan can cover the furniture, equipment and business portion, and working capital for the first months under new ownership.
A buyer's request reads best with the seller's monthly occupancy and room revenue for three years, the returns, a list of FF&E with ages, and any improvement plan the brand will require at transfer. Plan for the renovation and the purchase together, since a brand may require both within the first year.
Room-Tax Records, Seasons and Working Capital for Hardin County, KY Lodging
Lodging income moves with occupancy, while payroll, utilities and franchise fees do not. A working capital loan or a credit line covers the slow stretches. The City of Elizabethtown also lists a transient room tax on its Finance Department's tax page; current room-tax filings are a simple record of occupancy that partners can read. Confirm rates and filing rules with the city.
Owners asking about collateral can read the article on what motels pledge. See also Elizabethtown, KY business counts and the other trade pages.
By Eaglerun Business Loans · Updated