Types of Loans Available When Adding Accommodations to Your Wedding Venue

The Venue Podcast

We've chatted with many wedding venue owners who are interested in adding onsite accommodations to their venue property as an additional stream of revenue. If this is something you've also been considering, today's episode is for you! DISCLAIMER: This episode is not legal or financial advice. We're just sharing our stories and tips! Please consult your own legal and financial professionals before pursuing any loan. One of the first questions we often receive is: "I need an amount of upfront capital, can you give me an example of loan options you've seen?" In this episode Lindsay shares: Three loan types to consider when adding onsite accommodations to your wedding venue property.

1. Standard Commerical Loan

2. DSCR - Debt service coverage ratio Quick Tip: Based on the property’s income potential vs the purchaser’s credentials/credit - if approved lenders don’t require money down. Perfect for venue acquisition or/on-site accommodations.

3. Portfolio loan - lender keeps the loan in-house - doesn’t sell to another company. The benefit of small, local banks - may be more flexibility within the terms.

4. BRRR (Buy Rehab Refinance Repeat)