
In the hyper-competitive hotel business, keeping pace with the major flags and industry giants can be a daunting task for small hoteliers and franchise operators. Banks and other lenders take very close and careful assessments of the small hoteliers' track record and personal credit history when considering financing. Access to capital, which is essential for the small hotel owner/operator to maintain and enhance their property and amenities, is extremely difficult, and ultimately this prevents many of these smaller businesses and properties from reaching their fullest potential. One of the best solutions for the small owner/operator is the Small Business Administration's 504 loan program, which enabled 753 hoteliers to borrow $802 million during the 2006 federal fiscal year. READ MORE