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Heartland Lending: Secure more dough to get back to your bread and butter

January 17, 2017
Lending made easy: Secure more dough to get back to your bread and butter
 
Balancing your everyday operating costs while investing in expenses to grow your business doesn’t have to feel like juggling hot plates. While a small business loan may seem daunting, it’s often the best way to boost your bottom line. Here are a few reasons you may consider a loan:
 
  • Expansion – Is business booming out your front door? If you need a bigger space or need to hire more employees or fresh talent to keep up, a loan can help you cover the cost of expanding without wiping out your operating budget.
  • Equipment – Is your equipment wearing out while your business is finally ramping up? A loan can make purchasing or updating outdated technology or equipment a reality.
  • Inventory – You already know you have to invest in high-quality products to be able to meet customer demand. A loan can help you keep up with ever-changing trends.
  • Working capital – Cash flow for basic operational needs can be a challenge for restaurant owners. A loan can provide a safety net to keep business afloat during off-peak seasons when profits may suffer.
If you think a loan may be right for you, the next step should be evaluating the right loan partner. Small business owners face multiple hurdles securing loans. In fact, only about one in five business that apply for a loan from a big bank are approved. However, that doesn’t mean you should take the first offer that comes along.
 
It’s important to find a reputable lender with transparent terms and rates. Be sure they’ve worked with businesses the size of yours before, don’t be afraid to ask for referrals, and most importantly, be sure the lender is invested in your success.
 
Here are a few loan pricing pitfalls to avoid:
 
  • Analyze your project to be sure your profits will exceed the total cost of the loan.
  • Be sure the true cost of the offer and repayment terms aren’t hidden. Many lenders may even modify the terms of the loan midstream.
  • Time is money. Look for quick approvals and faster funding, but be sure not to trade it for higher financing costs.
  • Watch out for quick money with hefty fees.
Whatever direction you decide to go, make sure you understand every aspect of the deal. As long as you work with a reputable, trusted partner, you’ll uncover the best option to fit your vision.
 
Heartland Can Help
Heartland partners with a number of reputable lenders who offer the best lending solutions on the market to get you the funds you need, in as little as one day, at the most reasonable rates possible – as low as 8 percent. If your business accepts credit cards, your payments are withheld automatically over the course of the loan period making repayment as easy as pie.
 
Visit Heartland Payment Systems online or call 855.861.8181 to get started today.  Or feel free to contact Angela Ihry, 605.940.9861, angele.ihry@e-hps.com.
 
Heartland Payment Systems is an Endorsed Provider of the Restaurant Association Metropolitan Washington.