How do I get a Restaurant Business Loans if I am in Baton Rouge, LA

Business owner smiling outside of her restaurant

If you’ve tried obtaining the loan from your bank but the bank refused to give you a loan or the loan options offered weren’t the best fit for you There are still options in Baton Rouge, LA!

Restaurant business funding solutions are accessible in the region of Baton Rouge, Louisiana

Line of Credit

A business owner that is approved may be offered a line of credit by a brick-and-mortar institution or an alternative lender. There is usually a spend limit, which has to be paid either regularly or on a yearly basis before a business owner can access additional credit. This can be beneficial for two reasons:

  • It grants business owners working the capital they require and the flexibility to decide the amount they’ll need
  • It assists business owners in improving their credit score for business.

Use to manage cash flow for purchasing more inventory or to cover other unexpected expenses.

Use a revolving line of credit, that gives you access cash when you need it.

 

Cosy table at restaurant against an apron rack

Term Loan

Make investments for your business, like expansion projects or large purchases.

Make sure you have the money you need in advance at a low cost, with the option to apply for additional funding if you need to. This is a ideal option if you have a flexible timeline of your project or you begin searching for funding early enough to know when you’ll need it on hand.

 

View of empty outdoor restaurant on the seashore.

SBA (Small Business Administration) Loan

A Small Business Administration, or SBA, loan is a loan of funds from The U.S. Small Business Administration

SBA loans typically require applicants to put down a significant amount of personal or business collateral for backing the loan to justify their personal involvement in the venture. SBA loans also come with lengthy procedures for applying that can last from weeks to months in which applicants must submit years of financial statements as well as produce receipts for each large purchase the business undertaken over several years. SBA loans might be the right choice for you especially if your project is on a flexible timeline and you don’t need to have capital readily available. SBA loans also provide flexibility with regards to the amount of funding available. Many SBA-approved lenders will issue loans of up to $5.5 million. This amount is the maximum permitted by the SBA.

Restaurant Business Loan Calculator in Baton Rouge, LA


Calculator Disclaimer:

These calculators are designed to function as a tool, but not to replace the user-defined parameters. The default values are hypothetical and might not be appropriate for the specific situation you are in. Before you rely on the figures , get advice from an expert in financial matters.

 

If you would like a quote or you just want know what other options you have in Baton Rouge, LA, please fill the form below:

 

 

The operator of this website is not an actual lender or a lending partner. It does not offer an offer for loans and does not broker loans online to lending partners or lenders. Customers who arrive at restaurantloan.xyz are connected to the lender or an lending partner and transferred to lenders only or lending partners who offer small-business loan products.