What Restaurateurs Need To Know About SBA Loans

3 Min Read By Craig Calafati

Restaurant owners launch with a lot of optimism but rarely with enough capital. And the reason is almost always the same: business plan projections were based on what they want to have happen vs what will realistically happen.

Too many restaurateurs are convinced their establishments will be filled from day one.

They won’t.

Too many restaurateurs are convinced their establishments will be filled from day one. They won’t. Even when there’s excitement surrounding the opening, sustaining momentum and building a customer following takes time. Meanwhile, for serious owners, they must find a way to overcome a shortfall of cash. Very often, SBA loans are a good way to proceed because they are designed to empower entrepreneurs through the lending process.

Here are three ways that SBA loans are different from bank loans and how this type of lending can make a difference in your launch and growth.

SBA-Approved Lenders vs Conventional Commercial Banks  First, it’s important to note that…