Business Loans for Bar Owners
Business Loans for Bar Owners
Opening up a bar is a dream for many entrepreneurs. It can be a very lucrative business if the bar is in a good location and it is operated correctly. However, there are tremendous daily expenses involved with running a bar business and having adequate working capital can make or break a bar. It is for this reason that many bar owners find themselves looking for bad credit small business loans in order to maintain or improve their business. Shield Funding provides business loans for existing bar owners in need of working capital.
How to Get Small Business Loans for Bars
We try to make business loan programs that work for a business. The most important thing to us is that your business becomes successful. In order to achieve that success we structure business loans that work with the cash flow your business generates, not against it. We do that by creating a payment plan that deducts a small portion of your revenue from each sale or on a daily or weekly basis. We establish an amount that does not put strain on your business and one that you are comfortable with. This way little by little your business is able to pay back the loan without the worry of mounting balloon payments that can often crush a small business. There are other advantages to receiving a small business loan for your bar from Shield Funding.
Unlike traditional business loans that have accruing interest, our loans have a zero interest rate. We charge a one-time fee and that is added to the business loan and the total amount you owe, principal and fee, never changes. Also, because your payments are set as a small percentage that never changes, your business is buffered against payment problems during the slow cycles that all bars experience. What this means is that because the payments are structured as a percentage, when the bar does smaller batches of revenue, your payments towards the business loan reduce as well. Our unsecured business loans programs also do not require any collateral. With no accruing interest, no collateral required, and comfortable payments our bar loans have helped many small businesses become successful.
Ways in Which You Can Utilize the Additional Working Capital
Once we provide your bar with funding the allocation of those funds is entirely up to you. We believe that the actual business owner can disperse the working capital better than anybody else and that is why there are no restrictions on the funding. Some of the past bar owners we have worked with have opted to have construction done to improve the aesthetics of their location while others have increased their marketing efforts to acquire new business. Some small bar owners have decided just to pay off existing debt to liquor suppliers or bar food vendors in order to make their business run more smoothly. There are unlimited ways which you can choose to utilize a business loan; the important point is that it is up to you.
Additional Business Options
Some bar owners are keen on expanding their business by launching their own craft beer or a restaurant. Shield Funding also offers programs for new restaurant loans and funding for microbreweries.
We have an excellent track record with providing funding to bar owners and we have taken great pride in watching these small business owners become hugely successful. Our bar loan programs were established to ease access to small business loans for bar owners with their short-term working capital needs. If you are in need of funding please call us to see how much money you are eligible for or start the free application process using the form on the side of the page. Complete the form or give us a call at (888) 882-6117, we look forward to hearing from you.