Specializing In Small Business Loans For Restaurants & Hospitality
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How Do Business Loans For Restaurants Work?
Restaurant Business Loans can address a multitude of investments, expenses, and cash flow shortages. For example, if you’re looking to replace an expensive piece of equipment, we offer Equipment Financing in which your desired purchase is used as collateral. Very little paperwork is required, and you’d be able to secure the new equipment in as short as a few business days.
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Restaurants tend to perform high volumes of debit and credit card sales. For this reason, we often recommend a Merchant Cash Advance when business slows down temporarily. You’d make smaller payments during slow periods, which frees up more cash to prepare for busy periods. Merchant Cash Advances are cheaper when your payments are more spread out. This repayment structure is particularly ideal for highly seasonal restaurants or the countless restaurants in which demand can fall or drop at any moment.
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Maybe one of your biggest obstacles is securing enough ingredients or supplies to meet these unexpected surges in demand. A Business Line of Credit can solve this common dilemma. You’d gain the means to purchase large orders when it’s most convenient for your cash flow cycle. And your interest would be minimal since you’d be able to pay off your balance quickly.
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For more substantial investments like adding another location or renovations, we offer Business Term Loans. We can approve these products much quicker than banks, and your terms can even be customized to suit the estimated time frame of your investment.
Who Qualifies For Restaurants/Bars?
Approved businesses generally met the following criteria: