My wife and I met in a youth Hostel in China. She is Chinese and I am an American. We have some very good friends in the YHA China that are encouraging us to open a Youth Hostel. We, my wife and I, really want to open one. Issues of opening one in China: Land belongs to the government and is "owned" by a third party that we would need to rent from. We can only sign a 10yr contract and then when it is up..... we have nothing. We must put down 500,000-800,000RMB (aprox. $100,000)... But the locations are good for the sites we have found. There are many more issues that I could discuss but am not here to talk about opening one in China.
We feel that opening one in the USA is a better long term option then perhaps in the future open another one in China. So I guess my main question for opening one in the USA is:
Is there government support programs/money lending programs we can take advantage of?
-- We went to the Annual YHA China meeting and they mentioned the USA has federal support and loan possibilities.... is this true?
13 years
There may be small business loans and grants available depending on where in the US you plan on opening. With Hostelling International (YHA equivalent), if you go under their banner it would be like a franchise as they wholly own their own properties under non profit acts. I don't believe they would have funding available unless it was for a location that HI was seriously wanting to have a hostel.
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