MARYLAND · NAICS NAICS 7211 family
Maryland lodging splits between the Ocean City oceanfront's compressed summer season, the Baltimore and Capital-region business base, and Annapolis sailing tourism. Lender packages turn on a credible third-party study that ties flag standards, average daily rate, occupancy, and revenue per available room to each local trade area, modeling three distinct comp-set worlds and stress-testing coverage against seasonal curves and weekend-driven demand.
FEASIBILITY TRIGGER
Hotels are on the SOP 50 10 8 special-purpose list, so a third-party feasibility study is normally required, the appraisal must come from an industry-experienced going-concern appraiser, and equity rises to 15 percent, or 20 percent for a startup flag.
Maryland generated 132 SBA-disbursed hotel loans between FY2010 and FY2026, worth $346.7 million in approved 7(a) and 504 financing at an average of $2.6 million per deal. Ranked #29 of 38 states for hotel SBA volume, the state captures 1.0% of national hotel dollars. 76.5% of the loans ran through 7(a) with 504 covering the remainder; 19 approvals have posted since FY2024.
| Disbursed loans (FY2010–FY2026) | 132 |
| Approved volume | $346.7 million |
| Average loan size | $2.6 million |
| 7(a) share | 76.5% |
| Approvals since FY2024 | 19 |
| State rank by loan count | #29 of 38 |
Among the 102 seasoned loans in this segment (approvals FY2010–FY2021), 4.9% reached adverse resolution — purchased, liquidated, or charged off. The national benchmark for hotel is 4.4%, against 7.3% across all industries. That performance runs above the national benchmark for this asset class, which is a factor lenders weigh in their credit decision.
Source: SBA 7(a) and 504 FOIA loan-level data, as of March 31, 2026. Disbursed loans only. See data methodology.
A 4.9% adverse-resolution rate against the national hotel benchmark of 4.4% tells credit committees to scrutinize revenue projections and coverage assumptions closely on Maryland deals in this class. A rigorous third-party feasibility study — built on documented demand, defensible pricing, and stressed coverage — carries meaningful weight in that underwriting conversation, particularly at an average loan size of $2.6 million across 132 loans.
Every Maryland hotels and motels project we underwrite follows the same lender ready process: independent market analysis, site and technical review, and financial projections tested against SBA SOP 50 10 8 standards. Our SBA feasibility study consultants guide explains scope, timing, deliverables, and what lenders and CDCs expect in the report.
Maryland projects often pencil under SBA 504 because the 50/40/10 structure delivers up to 90 percent financing on owner-occupied real estate at a fixed debenture rate, and SBA 7(a) covers acquisitions, working capital, and equipment. From July 4, 2026 eligible borrowers can combine 7(a) and 504 for up to $10 million in total program credit.
Maryland lodging splits between the Ocean City oceanfront's compressed summer season, the Baltimore and Capital-region business base, and Annapolis sailing tourism, comp-set worlds a study must model separately, and the named record reaches a major coastal project.
For a national view of this asset class, see our hotel SBA feasibility overview, and read our related analysis in the hotel lending research on our blog. Lenders and sponsors can engage a hotel feasibility study consultant for SBA loans.
Compare neighboring markets: Maine, Massachusetts, Texas.
Public SBA and CDC program records, cited as program evidence
$26,000,000 SBA 504 project financed through Chesapeake Business Finance Corporation
Oceanfront hotel, program evidence
Ocean City, Worcester County
$15,188,000 SBA 504 through TMC Financing
58,370 square foot hotel closed May 29, 2025, national program evidence
Marina, Monterey County, California
Fifteen-minute scoping call, written proposal inside one business day, firm fixed fee before you sign.
Book a MeetingOur SBA feasibility study consultants prepare lodging and hospitality studies for lenders, CDCs and sponsors. See pricing, methodology or request a fixed fee quote.
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