Funding partners that work with operating Myrtle Beach, SC motels can pay for equipment such as a guest shuttle van or fitness-room machines; the property itself is outside this site. Two invented cases are priced here, a shuttle van at two terms and housekeeping carts with two fitness-room machines, followed by the papers a van request may need.
Invented figures throughout: a $46,250 shuttle van with $5,000 down at 48 or 60 months, and $11,207 of carts, vacuums and fitness machines over 24 months. A van request may also need the dealer’s buyer’s order and recent bank statements.
Hotel Loans for a Guest Shuttle Van: 48 or 60 Months
A van that carries the motel’s own guests is a work vehicle of the motel’s business, so it can go into an equipment request like a machine would. Freight hauling for others is outside this site.
Illustration only, invented figures: the motel prices a 12-passenger shuttle van at $46,250, puts $5,000 down and finances $41,250 at a 10.35% annual rate.
| Term | Monthly payment | Total of payments | Interest |
|---|---|---|---|
| 48 months | $1,053.15 | $50,551.20 | $9,301.20 |
| 60 months | $883.56 | $53,013.60 | $11,763.60 |
In this invented case the 60-month schedule trims each payment by $169.59, while the interest over the life of the loan grows by $2,462.40. Insurance, registration and upkeep sit on top of either payment.
An equipment loan can use the van as its collateral; a term loan may be priced on the business as a whole and can pay for the van and other items under one fixed payment.
Not every lodging business has staff: 146 Horry County, SC traveler accommodation businesses (NAICS 7211, which also takes in inns and B&Bs) ran with no paid employees in 2024 and together reported $12.6 million in receipts (Nonemployer Statistics). An owner-run motel can request a van or carts the same way a staffed one does.
Business Loans for Hotels: Housekeeping Carts and Fitness-Room Machines
Smaller pieces wear out on their own schedules. Grouping them puts one quote and one payment in place of four:
- 6 housekeeping carts at $735 each
- 3 upright commercial vacuums at $389 each
- One treadmill for the guest fitness room at $3,890
- One recumbent bike at $1,740
Illustration only, invented figures: the four lines total $11,207. Financed for 24 months at a 13.05% annual rate, this invented order costs $533.06 a month, and the 24 payments reach $12,793.44, or $1,586.44 more than the price.
A treadmill that plugs into a standard outlet is equipment; a dedicated circuit for it would be property work outside this site. When the carts and vacuums are a small part of a wider need, a working capital loan can pay for them along with other costs.
Papers a Funding Partner May Ask for Before It Prices a Motel Van
A vehicle request has paperwork of its own, separate from a quote for machines. Before it prices the shuttle van above, a funding partner may ask for some or all of the following:
- The dealer’s buyer’s order showing the VIN, the price, the dealer fees and the down payment
- Recent business bank statements showing the motel’s deposits
- Any loan or lease already open on another of the motel’s vehicles or machines
- The name the motel’s business bank account is held under, matching the company name on the request
An equipment loan secured by the van may carry the funding partner’s lien on the title until the last payment; the agreement states how the title is released. Upkeep, insurance and registration stay with the motel on either term.
A motel owner can call (843) 256-2591 or open the request form, and the articles page holds the rest of the posts.
By Cedarbend Capital · Updated
