PRLA_Winter17

23 / 34

Winter 2017 • PENNSYLVANIA RESTAURANT & LODGING matters • 25
PRLAEF
SCHOLARSHIP
PROGRAM
NOW ACCEPTING
APPLICATIONS
Deadline March 1
Educational Foundation Inc.
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 businesses 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:
f f Analyze your project to be sure your profits will exceed
the total cost of the loan.
f f 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.
f f Time is money. Look for quick approvals and faster funding,
but be sure not to trade it for higher financing costs.
f f 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.
FUN
FACT
Considered the national dish
of Great Britain, fish and
chips were first served
together as a complete
dish in the 1860s. There
are around 10,500 specialist
fish and chip shops in the
UK, and British consumers
eat 382 million portions
of fish and chips annually,
according to the National
Federation of Fish Friers.
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.
Call 855-861-8181 to get started today or contact Angela Ihry,
605-940-9861, .
Only about one in five
businesses that apply for a loan
from a big bank are approved.