Getting a loan backed by the U.S. Small Business Administration (SBA) is one of the most affordable ways to fund an established restaurant business. The problem is that it can take 3-4 months to get approved for and receive an SBA loan.
In the fast-paced restaurant industry, owners just don’t have that kind of time. According to the National Restaurant Association, there are over 1 million restaurants in the United States, and there are expected to be more than 1.7 million restaurant jobs by 2026. To keep pace with competition, restaurants need access to fast, affordable funding.
Enter SmartBiz. Launched in 2009 to help businesses get funding after the economic downturn, SmartBiz’s motto is “SBA Loans Made Easy.” They work with banks to issue SBA loans quickly, typically in 30 days or less.
Read more from our friends at FitSmallBusiness.com.