Real Estate Rental Business Seeking Loan in Montego Bay, Jamaica

1. The business operates in the real estate rental industry, specifically located in Montego Bay, with a current focus on long-term rental services in Catherine Hall, St. James.
2. Business currently has 2 employees and owns a property with 2 units, both of which are rented out to young professionals on a long-term basis. The current rental agreements have 1 year remaining.
3. The business is seeking to expand its services by adding 2 additional units to capitalize on market trends, specifically by venturing into the serviced apartment sector. This expansion is aimed at tapping into the growing demand for serviced apartments in the area.
4. The planned expansion includes listing the new serviced apartments on platforms such as Airbnb, indicating a strategic approach to targeting a broader customer base and maximizing occupancy rates.
5. Business model benefits from high net profits as it owns the properties outright, thus avoiding the burden of mortgage payments and potentially leading to favourable financial performance.
6. The current focus on long-term rentals for young professionals provides a stable income stream, while the proposed expansion into serviced apartments presents an opportunity for additional revenue streams through short-term rentals.