If you’ve tried to get a loan at your bank, and they either refused to grant you a loan or the options they offered weren’t exactly what you needed there are plenty of options in Slidell, LA!
Restaurant business funding options are offered within the region of Slidell, Louisiana
Line of Credit
An authorized business owner gets given a free line of credit from a brick and mortar bank or alternative lender. There is typically a spending limitation, which must pay back every month or annually before the merchant can draw down additional credit. This option is beneficial for two reasons:
- It provides business owners with working cash when they require it and the option to decide what amount they’ll need.
- It assists business owners in improving their business credit score
The use of cash flow management to purchase more inventory or to pay for unexpected expenses.
Benefit from a revolving credit line, which can provide access to money whenever you need it.
Term Loan
Utilize for investment in your company, for example purchase of large quantities or projects for expansion.
The funds you require quickly and at affordable rates with the option of applying for more when needed. This might be a choice for you if you have a flexible timeline in your project, or you begin to look for financing ahead of time of when you’ll need it on hand.
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 need applicants to pay large amounts of personal or business collateral to back their loan in order to show their personal involvement in the venture. SBA loans also come with lengthy procedures for applying that can extend for weeks or months and require applicants to file several years of financial statements and keep receipts of every important purchase that their business has made in the span of several years. SBA loans may work for you for projects that have a flexible timeframe and you don’t require capital to be available quickly. SBA loans also allow flexibility with regards to the amount of financing available. Some SBA-approved lenders may originate loans as high as $5.5 million. That’s the amount allowed from the SBA.
Restaurant Business Loan Calculator in Slidell, LA
Calculator Disclaimer:
These calculators are designed as an aid but not to replace the parameters that are defined by the user. The default values are hypothetical and might not be suitable for the specific situation you are in. Before relying on the figures , consult a financial expert.
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