Bagel shops are extremely popular. It isn’t very hard to find many good bagel places in cities across the country. Once people find a bagel place they love, they usually become dedicated regular customers. That is why these types of small businesses can be very rewarding. Although they can make you money, they will also present you with challenges. Expenses are a main challenge of any small business owner. Rent, payroll, equipment, etc. can all add up very fast and become overwhelming. Yet, there are banks, credit unions, and alternative lenders that offer bagel shop financing to help you out.
Bagel Shop Financing
You can get bagel shop financing from a bank or credit union but it can be difficult. Both would request several years bank tax returns, a recent profit and loss statement, and several months of bank statements. Most require a minimum of 3 years in business and a FICO score of at least 750. In addition, it can take awhile to not only get approved for financing but also receive the capital.
Small Business Funding has a merchant cash advance program specifically for businesses such as bagel shops. We understand the necessity for a fast cash infusion and finding someone who can facilitate the funding makes your life easier.
With Small Business Funding it is easier to get the financing that your bagel shop needs. Bad credit, bankruptcies, and tax liens are okay (as long as there is a payment plan in place). Documentation required to receive an approval is an application (one page), 3 months of bank statements and 3 months of credit card merchant statements (if you process credit cards). This information will allow an alternative lender to provide you with a decision within 24 hours.
ACH Revenue Based Loan
If you do not want to have payments held back through your credit card processor then you can have payments debited directly from your business bank account. This too can be a fixed percentage of your daily credit card sales or it can be a fixed daily payment Monday through Friday. So the necessity of accepting credit cards is NOT a requirement. An ACH Revenue Based Loan is an option.
Bagel shop financing from Small Business Funding can help take your business to new heights. You can also buy any new equipment you may need or use it to make payroll. Small Business Funding can help you do what you need to in order for your bagel shop to be a great success and make all the delicious bagels that people love. Apply for a small business loan today and find out how much your bagel shop is approved for. There is absolutely no obligation.