Myrtle Beach, SC Small Business Loans: From Motel Washers to Payroll Before a Group Invoice Clears

A franchise renewal fee is one check, written once, and the choice between a credit line and a term loan comes down to how long the business wants to carry it. A term loan spreads the fee over years at a fixed payment. A line lets the owner draw the fee and clear it within months, with interest charged only on the balance still drawn.

Illustration only, invented figures: a $38,600 fee. As a term loan at 10.25% for 48 months, the monthly payment is $983.64, and by the last of the 48 payments the business has paid $47,214.72, so $8,614.72 of that is interest. Drawn on a line at 13.5% and cleared in 12 level payments instead, each payment is $3,456.71; twelve of them total $41,480.52, with $2,880.52 in interest (our arithmetic).

The line route carries $5,734.20 less interest in this invented case, but it asks for $2,473.07 more each month for a year. A hotel or restaurant whose deposits can absorb that bigger payment may lean toward the line; one that needs the fee to stay small on the monthly budget may lean toward the term loan. A funding partner prices either option on its own review, so the rates here are placeholders, not quotes.

A commercial cleaning company’s ride-on scrubbers and battery burnishers can be financed with an equipment loan, where the business owns the machines from day one, or leased, where the leasing company owns them until any buyout. The machines charge from standard outlets, so no work on a building is part of the request.

Here the lease asks $6.33 more per month, and with the buyout its five-year cost runs $4,059.80 above the loan (our arithmetic). A lease can still make sense when the owner expects to swap machines at the end of the term instead of buying them; the comparison changes with each quote.

Each bank or funding partner sets its own review, so no list can say what all of them check. A written plan gives a reviewer something to test the request against, and for a hotel the payroll section can show whether the request matches the way the property is staffed.

• A staffing schedule by role: front desk, housekeeping, maintenance and night audit
• Gross wages per pay period, with the pay dates for the next few months
• Cash on hand at the start of the plan and the deposits expected against each payroll
• What the requested money changes: extra housekeeping hours, a new manager, or wages covered while a group invoice is open
• Any loan or lease payments the property already makes

For scale, Horry County, SC’s accommodation and food services sector counted 1,408 employer establishments with 30,879 paid employees in 2023 (County Business Patterns). Those are county totals; the plan itself needs the hotel’s own payroll numbers.

Linen services, food distributors, amenity suppliers and laundry chemical vendors can bill a hotel on their own calendars, and the room revenue may not land on the same days. Financing in South Carolina for that gap can be working capital, a credit line, or inventory financing for stock bought ahead.

Under NAICS 7211, traveler accommodation, Horry County listed 177 employer establishments in 2023, per County Business Patterns, with 5,468 paid employees on their payrolls.

Separately, ZIP 29577 held 98 traveler accommodation employer establishments in 2023 (ZIP Code Business Patterns); ZIP figures follow the physical address and do not stop at the city line.

For hotels comparing options, the order of supplier due dates matters more than the total. A property that pays linen weekly and food monthly may draw on a line each week, while one facing a single large amenity order may prefer a fixed loan.

Take a small Myrtle Beach, SC real estate office that wants to add an assistant. The new hire’s wages come due before any extra closings the assistant helps with, so the office asks for working capital or a credit line to carry them.

1. The office manager phones (843) 256-2591, or fills in the request form, which asks for the company name, how long the office has operated, yearly revenue and the sum in mind.
2. Cedarbend talks through the hire, the wage cost and how the office plans to pay the money back, then passes the request to funding partners.
3. A partner may ask for bank statements, tax returns or a debt list, and may check credit as part of its own review.
4. Any offer names the amount, rate or cost, term and payment schedule; the owner compares it and decides.
5. After funding, payments follow the schedule written into the agreement the owner signed.

Horry County counted 499 real estate offices with paid staff in 2023 (CBP, NAICS 5312), and 440 of them had fewer than five employees; in an office that size, an assistant’s wages are worth planning before the hire.

A bar placing a large liquor and beer order can look at the same bill through six products. Horry County had 73 drinking places (alcoholic beverages) with paid employees in 2023 (CBP, NAICS 7224); each one buys stock before it sells a drink.

Liquor licensing and any state rules on alcohol purchases are outside what this site explains; the table covers only how the money side could work.