If you’ve attempted to get a loan from your bank but it was rejected, you a loan or their choices were not what you need, you still have more options in Exeter, RI!
Restaurant business funding options are available in the area of Exeter, Rhode Island
Line of Credit
An approved business proprietor is given a free line of credit by a brick-and-mortar institution or an alternative lender. There is typically a spending maximum, which needs to be repaid either in a monthly or annual period before a business can obtain additional credit. This option is beneficial for two reasons:
- It allows business owners to work money when they need it as well as the flexibility to decide the amount they’ll require
- It helps business owners improve their business credit score
Useful for managing cash flow to purchase additional inventory and other expenses that are unexpected.
Get a revolving line of credit that gives you access funds when you require it.
Term Loan
You can use it for investing in your business, such as purchase of large quantities or projects for expansion.
Receive the funds you require in advance at a low cost, with the option to apply for more funds as needed. This could be a choice for you if you are able to adjust the timeline for your project , or if you begin looking for funds far in advance of the time you need to have cash available.
SBA (Small Business Administration) Loan
In essence, a Small Business Administration, or SBA, loan is a loan of funds from The U.S. Small Business Administration
SBA loans generally have applicants depositing an amount of collateral, either business or personal, to secure the loan as proof of personal investment in the venture. SBA loans also have lengthy application processes that can last from weeks to months which require applicants to submit years of financial statements as well as make receipts for each large purchase the business conducted over several years. SBA loans could be an option for you If your venture is on a flexible schedule and don’t require capital to be available quickly. SBA loans also offer flexibility in the amount of money available. Many SBA-approved lenders will issue loans as high as $5.5 million, the maximum amount permitted by the SBA.
Restaurant Business Loan Calculator in Exeter, RI
Calculator Disclaimer:
These calculators are designed to aid in the process, not to replace the parameters that are defined by the user. The default numbers are not guaranteed and may not be suitable to your particular circumstances. Before you use the data, seek the advice of an expert in financial matters.
If you would like a quote or you just want know what other options you have in Exeter, RI, please fill the form below:
The site’s owner is NOT a lender however, it does not make proposals for loans, nor does not broker online loans to lending partners or lenders. Visitors who visit restaurantloan.xyz are connected to the lender or a lending company, and they are redirected exclusively to lenders and lending partners that offer corporate loan products.