How to get a Restaurant Business Loans if I am in Shreveport, LA

Business owner smiling outside her restaurant

If you’ve attempted to obtain one loan from your bank and or they declined to offer you the loan or the loan options offered did not match your needs there are plenty of options in Shreveport, LA!

Restaurant business funding options are readily available in the state of Shreveport, Louisiana

Line of Credit

An approved business owner can be extended an open line of credit from a brick-and-mortar bank or alternative lender. There is typically a limit on spending amount that has to pay back in a monthly or annual period before a merchant is allowed to take out more credit. This is advantageous for two reasons:

  • It grants business owners working financial capital whenever they need it and gives them the ability to determine how much they’ll require
  • It aids business owners to improve their business credit score

The use of cash flow management to purchase more inventory or other unplanned expenses.

Make use of a revolving line of credit, which can give you access to cash at the time you require it.

 

Cosy table in restaurant against an armoire for bars

Term Loan

You can use it for investing in your company, for example big purchases or expansion plans.

Get the funds you need early, at great rates, with the option of applying for more funds as needed. This might be a beneficial option if you have a flexible timeframe for your venture or if you start looking for funding ahead of time of when the cash is required available.

 

View of empty outdoor restaurant along the shoreline.

SBA (Small Business Administration) Loan

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

SBA loans generally demand applicants to make an extensive amount of collateral, either business or personal, for backing their loan to show their personal investment in the venture. SBA loans also have long-winded application processes that can run for weeks or even months and require applicants to provide year-long financial statements and create receipts for every significant purchase that the company has made over the course of several years. SBA loans might be an option for you for projects that have a flexible timeline and you don’t need cash in hand immediately. SBA loans also have flexibility in regards to the amount of funds available. Many SBA-approved lenders will issue loans of up to $5.5 million, which is the maximum allowed through the SBA.

Restaurant Business Loan Calculator in Shreveport, LA


Calculator Disclaimer:

These calculators are made to function as an aid and are not meant to replace the parameters that are defined by the user. The default values are hypothetical and might not be relevant to your specific situation. Before you decide to rely on the values, seek the advice of an expert in finance.

 

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

 

 

The owner of this site is NOT a lender is not a lender, and therefore does not make requests for loans, and is not a broker of online loans to lending partners or lenders. Visitors who visit restaurantloan.xyz will be connected to a lender or an investment partner. Customers are redirecting them to lenders or lending partners that offer the business loan products.