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Inspired by the increasingly wide range of small business owners seeking capital, Biz2Credit, the online resource for small business finance, is launching industry-specific sites with information geared toward borrowers in those industries.
Biz2Credit's new Restaurateur page offers information on restaurant loans, franchise loans, accounts receivable financing, building loans, and equipment loans.
Biz2Credit has provided funding to home-based catering companies, quick-service restaurants, franchises such as Johnny Rocket's and Dunkin' Donuts, and high-end eateries, such as Rajesh Bhardwaj's highly rated Junoon Indian restaurant in Manhattan.
"Restaurant owners are cash strapped in a variety of ways. Startups need funding to launch, franchise owners require capital to begin operations, and existing restaurant owners can find themselves with short-term cash needs for a variety of reasons," says Rohit Arora, CEO of Biz2Credit.
"In the past few months, restaurants have increasingly turned to products such as merchant cash advance, which long had carried high interest rates,” Arora continues. “Because of a wide range of competition and their accessibility through Biz2Credit, this form of funding now offers more attractive lending rates."
Biz2Credit connects small business owners with a wide range of lenders, including big banks, regional and local banks, credit unions, Community Development Financial Institutions (CDFIs), Minority Business Development Centers, microlenders, accounts receivable financers, and other alternative lenders.
Biz2Credit has also launched sites designed to help healthcare industry professionals and women business owners in the past month. Additionally, the company will offer options for other industries, as well.