Many small businesses find they have trouble either getting started or hit a small snag on their journey to success. It happens to the best of us, but what about when it happens and could put your entire company on the line? There are choices available to you at Essential Federal Credit Union. Discover more about us and our small business loans for your Baton Rouge company.
When The Pandemic Hit
One of the groups most impacted by the coronavirus is, unfortunately, small businesses. And depending on the kind of business and the size of the business, some were hit much harder than others. In fact, many had to close their doors the month of or the month after the lockdown started. Unfortunately, Baton Rouge has seen many beloved businesses close their doors for good.
To survive, other businesses have had to change their procedures entirely. But for those simply unable to make those adjustments, the worst has come. And now, as lockdown continues, many small businesses are wondering what choices to make next. While some are making ends meet, others are running out of options. But at Essential, we have a few business loans available to help.
The Loans We Offer
At Essential FCU, we believe that small businesses empower our community to be better for everyone. That’s why we offer a number of small business loans in the Baton Rouge area. Take a look!
- Commercial Owner Occupied Real Estate Loans. With this loan, you can take control of your workspace by purchasing your building. When you own the building, you can control things such as the condition, maintenance, rent, and neighbors (if applicable).
- Business Lines of Credit. Sometimes all you need is a short-term solution. So keep moving forward with this type of loan by using it to help out with inventory, payroll, and more.
- Term Loans for Business Expansion. Perhaps you’re looking to grow your business. If you’re looking to increase the number of locations you have or expand your products and services, this is the loan for you. Additionally, this loan also includes equipment and vehicle loans.
- LED Guarantee Loans. Through the Louisiana Economic Development Corporation, these loans can assist with developing, expanding, and retaining small businesses. Guarantees may range up to 75% of the loan amount, but can’t exceed $1.5 mil.
- SBA Loans. Small business administration programs help empower small businesses to strengthen our community. With SBA Loans, businesses can take advantage of programs like the 7(a) Loans or Express Loans.
Receive Your Small Business Loans In Baton Rouge Today
Looking to start on one of our small business loans for your Baton Rouge business? Apply now, or give us a phone call if you have any questions for our professionals. Feel free to give us a call at 225.353.8238. We’re more than happy to help you with your financial options.