Expansion, maintenance, new hires, training, upgrades, supplies, inventory, payroll….all reasons for restaurant business loans. Restaurant owners live a tough life. Long days that never end. In a cash intensive business like the restaurant business you have to always be on site and keep your eyes on the money. Having capital at your disposal is key to growth and success. When certain deals come your way that can lead to additional revenue you have to take advantage of it.
Restaurant Business Loans
Restaurant business loans can come in several forms. This article is about alternative types of restaurant loans. Up until a few years ago the most popular type was the merchant cash advance. This type of restaurant business loan is dependent on credit card sales. The repayments are automatically deducted when you batch out at the end of the day. So if there were $1000 in credit card sales $200 would be held back and sent to your lender for repayment. Unsecured business loans are fast becoming the most common type of alternative restaurant business loans. They do not deduct from the credit card sales rather directly from the business operating account. In both instances there are metrics involved through underwriting that determines how much the daily repayment will be. The other form of restaurant business loans are asset based loans. This means that a restaurant owner can borrow against his/her equipment or building. What all three types have in common is that bad credit is okay, they are approved within 24 hours, and funded within 7 days.
Smallbusinessfunding.com is Your Source For Restaurant Business Loans
Small Business Funding is the premier source for restaurant business loans. Years of experience and expertise is at your disposal. Small Business Funding has developed strong relationships with the country’s finest alternative lenders. This lets them know that when we present them with a deal it has to get the best rate and terms as they know we will have offers from their competitors. We will do all the leg work, and there is plenty, on your behalf to secure you fast capital. Apply today for restaurant business loans and have your money in 7 days.