Business Loans

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It’s no secret that the hospitality industry took a hit in 2020. With the COVID-19 pandemic keeping everyone home and governors limiting interstate travel, it was a tough time to be in the hospitality industry. It’s estimated that the pandemic led to $492 billion in losses for the industry, but things are on an upswing.

In the United States, there are approximately 91,000 hotels and motels which generate over $194 billion of revenue in a normal year. There are signs of recovery, with hotels expected to add 200,000 direct hotel operations jobs in 2021 and 56% of customers saying they expect to travel for leisure in 2021. Pre-pandemic, wages accounted for 25% to 30% of a hotel’s revenues, making it a significant expense for hotel operators.

The industry also encompasses amusement and theme parks, tourist activities and attractions, dining and guided tours. All these hospitality-related businesses also depend on tourism and travel for their livelihoods.

If you’ve been thinking of opening or acquiring a hotel, or expanding an operation, or making another investment to help you recover from 2020, you might not have the cash reserves to fund your plans. Borrowing could be a smart choice.

If you already know that it’s time to take out a loan, it takes just a few minutes to apply online. But before you apply you should know how you intend to use the funds, how much capital you need to borrow, and the best loan for your hospitality business.

Get Your Business Loan Today

What Do I Need to Qualify?

Below is a list of the requirements to get approved for business funding with our most basic program.

  • At Least 3 Months in Business
  • 530 Min. Credit Score
  • $10,000 Min. Monthly Revenue
  • How Do I Apply?

    Applying has never been easier. You can either call our toll free number 24 hours 7 days a week at


    Submit your online application by clicking apply below and entering a few basic details about your business.

    Types of Business Loan Available

    Large Business Loans

    This is a short term small business loan that you can use for any type of expense. You can use it to cover seasonal swings in business, pay a new chef, or open an entirely new location. Whatever you need for your business, these simple term business loans will help you get it.

    We offer up to $1,000,000 in funds for restaurant owners. And with interest rates of 5–45%, you can get a better deal than you would with some traditional lenders. As long as you’ve been in business for two months, earn $8,000 or more per month, and have a credit score of 500 or more, you can qualify for one of these loans.

    Our terms range from 12–36 months, so you can get the amount and terms that work for you.

    Merchant Cash Advance

    Traditional lenders often require collateral when they give you a loan, which means you’re putting your business on the line. That’s not a good way to start a financial relationship.

    We offer unsecured business loans, so you don’t need to put up any collateral. Because we’re an alternative lender, we’re able to offer this funding service alongside our already great rates. You can feel more comfortable with our business loans knowing that we aren’t about to take your oven or your bar stools if you miss a payment.

    Small Business Loans for Expansion

    We know that  restaurants have a tough time receiving working capital because of the volatility of the industry. If you try to get a loan from a traditional lender, you’ll get denied fast. But we don’t think your industry should disqualify you from getting funding for your restaurant business.

    So we offer short term merchant cash advances of up to $1,000,000 to restaurant owners with credit scores above 500. You’ll pay 12–45% interest on terms up to 36 months. As long as your restaurant has been open for a few months and you have $8,000 in monthly revenue, you can qualify.

    Working Capital Loans

    Restaurants have a lot of day-to-day expenses, and that’s what working capital funding is for. Whether it’s covering payroll, stocking the bar, or taking advantage of a marketing or advertising opportunity, these loans help you with the more mundane expenses of running a restaurant.

    Like our term loans, you can get up to $1,000,000 in working capital. You still get the option of terms between 12 and 36 months and interest rates from 9–45%. You’ll need to have two months in business, and at least $10,000 in monthly revenue to qualify. You’ll also need a credit score of 650 or better.

    If you meet these qualifications, you can get the funding you need to cover any expense you might come across, from an emergency repair to making sure your freezers are full of food.

    Apply Directly to One Source!

    Work with a direct lender and get a business loan as fast as the same day. Shield Funding offers competitive rates and terms on all it’s funding programs. Apply now with a trusted lender that has been helping business owners secure working capital for almost two decades.

    Questions to Ask Before Borrowing

    It’s easier for existing businesses to get funding than start-ups. You have a proven track record to shower lenders, and can predict cash flows and possible cash flow gaps. Banks like to see several years of tax returns and financial statements, too. 

    Existing business owners have the required financial history to qualify for a bank loan – assuming that revenue and cash flows have been solid. Even an unprofitable business, or one that struggled during 2020, can borrow if it has enough cash receipts and a business plan for recovery. But if you’ve struggled with cash flow and possibly missed a few payments, your best option is to find an alternative lender who understands your business. 

    Small business owners who are just starting out have different funding needs. Lenders could ask you to pledge personal assets – such as investment or retirement accounts – to secure a loan. And some lenders refuse to work with borrowers who have less than two years of business history, so you’ll want to approach a lender you know is open to working with you.

    The stage or your business life cycle often helps you decide which lenders to approach.

    Maybe you need access to funds for working capital needs – to make payroll or pay rent during a slow period. Or, you need a large sum to acquire another company. Each need would direct you towards a different loan – in the first instance, a working capital loan or a line of credit, in the second a large business loan. 

    Lenders offer loans for varying amounts and with different repayment terms. The right loan for a short-term need is not the right choice for an acquisition. Knowing why you plan on borrowing can direct you to the right lender.

    Regardless of your plans for the borrowed capital, and their success, you will have to make payments on the loan. Typically, those payments come due before your plan’s completion, and before it begins generating revenues. 

    Before borrowing, ask yourself if your business’s cash flows are enough to make loan payments and still meet your other obligations. Add up your fixed expenses – like rent, utilities, and payroll – and determine how much free cash flow you have each month. If it’s not enough to cover the payment reconsider borrowing or borrow less. 

    A loan payment consists of a portion of the amount borrowed plus interest and fees, spread over the repayment term. Therefore, borrowing less reduces your monthly payments since it would reduce the base on your loan payment, and the amount on which a lender charges interest.

    Your ad agency’s cash flows must cover the loan payments – particularly if there is a delay between cash outflows and inflows. Make a budget before borrowing and include a plan to pay back the loan. 

    How long do you plan on using the loan’s funds? For large scale capital investments, the loan’s term should end close to when the project is complete. It’s important to know how long your project will take, or how long you’ll need to use the money, before you apply for a loan. 

    The lender selects a loan repayment term, and traditional banks often have established periods of two to five years for small business loans. With alternative lenders, you can borrow for just a few months.  Since the repayment happens over a more concentrated timeframe, you’ll have a higher loan payment. 

    It’s inadvisable to still be making payments on a loan when you’re no longer receiving the benefits of what it funded. After determining why you plan on borrowing, and how much you need to borrow, establish a project timeline and know how long you’ll need to use the loan’s capital. In some cases, a short-term loan is your best choice and you might want to approach an alternative lender.  

    Your credit score and business’ credit history are an important part of any loan application. Lenders view a credit score as a sign of your creditworthiness, and it will impact their willingness to lend to you and the loan’s terms. Small business owners with poor credit will find it harder to borrow because lenders view them as a bigger risk. 

    Before applying for a loan, check your credit score. Knowing it will give you an idea of the interest rate you’ll pay to borrow and which lenders will lend to you. Since a lower credit score reflects higher risk to the lender, you’ll pay more to borrow. 

    Business Financing Tips For the Hospitality Industry

    Large Business Loans

    If it’s time to invest in a renovation or acquisition, look into a large business loan. Borrowing amounts start at $50,000 and go up to $2 million.

    Merchant Cash Advance

    When you take out a merchant cash advance, you sell a percentage of your credit card receivables to the lender and they collect on future sales.

    Working Capital Loans

    Working capital loans help hotel owners cover the costs of day-to-day operations like payroll or utility bills. These loans help with operational expenses. They keep the lights on – literally.

    Funding Business Dreams Everywhere

    Want to find out more about how our loan products can help your eye care business? Get in touch today and we’ll help you find the right loan for your business!