Hotel Loans in Myrtle Beach, SC: Check-In Kiosks, Linen Stock and Used Laundry Machines

Hotel and motel financing through Cedarbend Capital is for the business side of a property that is already open. The table sets the costs that fit next to the product for each.

Not funded here: buying a hotel or motel, the land or building, room renovations, or any other work on the building and its systems. For the requests that do fit, a partner may look at bank statements, time in business, revenue and credit, and it may ask how long the property has operated under the current owner.

Illustration only, invented figures: a Myrtle Beach, SC motel adds two freestanding self check-in kiosks at $5,480 each and a front-desk workstation with its software setup at $3,350, $14,310 in all. That works out to $470.87 a month for 36 months at 11.35%, or $16,951.32 in total with $2,641.32 of interest (our arithmetic).

In this invented example, the kiosks stand on the lobby floor and plug into existing outlets, so they are equipment, not building work. New data cable, a dedicated circuit or anything built into the front desk is property work outside this site.

A partner may ask for the vendor quote showing the kiosk model and the software license term, and whether the kiosks replace part of the front-desk setup or run beside it. Receipt paper and other consumables are supplies, so they belong with working capital rather than the equipment request.

Traveler accommodation (NAICS 7211) had 98 employer establishments with a ZIP 29577 address in 2023. The wider accommodation and food services sector had 449 establishments at that ZIP, and 24.9% of those had fewer than five employees (ZIP Code Business Patterns).

County Business Patterns lists 177 traveler accommodation employers in Horry County, SC for 2023. The narrower hotels (except casino hotels) and motels code, 721110, accounts for 164 of them. Of the 177, 47 had fewer than five employees, leaving 130 with five or more (our arithmetic).

Owner-run properties with no payroll are counted in Nonemployer Statistics, a separate program that is never added to the employer figures; they can send the same request form as a staffed hotel. Restaurants share the accommodation and food services sector and have their own restaurant page.

Illustration only, invented figures: a Myrtle Beach, SC hotel running two linen pars adds a third, so sets can rotate through the laundry without running short, at $14,560 for sheets, pillowcases and bath and pool towels. A working capital loan for that amount at 12.85% over 12 months: $1,299.44 a month, $15,593.28 in all, $1,033.28 in interest (our arithmetic).

In this invented example, the short term matches a stock item that gets used up, not a machine kept for years. Inventory financing is the other product to compare for goods bought in bulk, and the working capital page shows how a working capital loan is set up.

Illustration only, invented figures: a Horry County, SC hotel buys a used laundry lot from a liquidator: two front-load commercial washers, a stacked dryer pair and two linen carts for $8,940. Eighteen payments of $547.47 at 12.55% clear it, with $914.46 going to interest ($9,854.46 in all, our arithmetic).

Checks worth making before signing for used machines:

• Photos and the serial plate of each machine, matched to the hookups already in the laundry room (new plumbing or a dryer vent would be property work)
• Drum, bearing and door-seal condition, seen running in person or on a live video call
• A bill of sale that lists every piece and states that no liens are attached
• Whether delivery and haul-away of the old pieces are in the price

A partner may set a shorter term for used machines than for new, or ask for the bill of sale before funding.

A longer post, a shuttle van and fitness machines for Myrtle Beach, SC motels, prices a guest shuttle van at two terms and a cart and fitness-machine order.