Republic Payment Systems offers flexible lending options for small businesses

THE WOODLANDS, Texas -- In an era of increasingly restrictive lending guidelines from banks, credit unions and other financial institutions, entrepreneurs are looking for innovative solutions to financial challenges. Republic Payment Systems, a credit card processing firm for area restaurants and small businesses, has expanded their range of business services to include small business loans.

“Banks typically shy away from lending to restaurants and small businesses, especially in today’s economy,” said Terry McBurney, founder of Republic Payment Systems. “But there are situations where seasonal or temporary financing is crucial to the financial health and stability of a small business.”

To that end, McBurney, in concert with other investors, has created a second tier source of funding for viable restaurants and other small businesses. Republic Payment Systems can arrange for an unsecured loan or line of credit to assist entrepreneurs with their business strategy. Loans range from $20,000 to $1 Million.

Each loan application is evaluated on a case by case basis, but it is based largely on historical data. “Our criterion is quite simple,” said McBurney. “We look at the longevity and viability of the business; its credit worthiness and their gross annual sales volume.”

Unlike a traditional loan agreement, repayment is arranged on a weekly basis with the term of loan being up to 18 months.

“Our loans are not intended to serve as a long term financial solution,” explained McBurney. “We’re providing much need access to operating capital in a time of need. There are occasions when this can mean the difference between capitalizing on a significant opportunity or suffering a loss.”

McBurney added that the loan program requires no collateral, offers a quick approval process and that interest paid is fully tax deductible.