RESTAURANT FINANCING
THE WORKING CAPITAL ESSENTIAL FOR YOUR ONGOING GROWTH
The most accessible funding option on the market | Quick pay-back structure | Funds deposited in hours
FundNow Capital
BUSINESS FUNDING Doesn't Have To Be Complicated
RESTAURANT FINANCING
Accessing business funding shouldn't be hard or time-consuming. GoKapital has developed a simple way to get up to $5,000,000 to cover all your restaurant’s needs. With competitive rates starting at 9% and flexible terms of 6, 12, or 18+ months.GoKapital only requires 4 months of operations and a minimum monthly average of $20,000 in business revenue.
Restaurant businesses can experience seasonal ups and downs. That’s why many owners rely on our restaurant loans to keep their ventures running all year.
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Types of Restaurant Business Funding:
We offer many types of loan products for restaurants. The kind of financing you can get depends on your financing needs. Here are the most common financing options we have available for restaurant business owners.
Restaurant equipment loans
Restaurant owners recognize that the costs associated with acquiring new equipment or repairing and replacing broken items, particularly baking equipment like ovens, can be quite high. However, you can enhance your restaurant's setup with the latest state-of-the-art equipment through restaurant equipment loans. We offer financing for up to 100% of the new equipment's cost. There's no need for collateral when seeking an equipment loan, as the equipment itself serves as collateral. This means you won't have to risk any of your personal assets.
Unsecured working capital loans
Nearly every restaurant will, at some stage, need an unsecured working capital loan. These short-term loans help restaurant owners manage expenses and run their operations smoothly. Working capital loans provide quick access to funding for restaurants that aren't excessively large. Typically, the maximum loan amount for these loans is around $350,000.
Restaurant loans with bad credit
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The loan terms and the interest rate depend on the loan size. Smaller loans usually have higher interest rates and a shorter repayment time as compared to bigger loans. Approval amounts are based mostly on the capacity of repayment (business revenue reflected in bank statements) and the availability of collateral (such as real estate or equipment) to secure the loan.
Restaurant owners can attest to the high expenses associated with food costs. If you're looking to finance your inventory purchases for your restaurant, consider exploring inventory financing options. This type of financing can take various forms, such as short-term, medium-term, or a line of credit. It is specifically designed to help you acquire stock for your business.
Restaurant loans represent the largest category of approved business loans through the SBA. In this arrangement, the government acts as a guarantor, providing assurance for the funds restaurants receive from the SBA. As a restaurant owner, your primary task is to ensure that everything is in order to facilitate a smooth investment process from the SBA into your establishment. Here are key points to consider when applying for SBA loans for your restaurant business:
- Ensure you possess relevant business experience
- Prepare your financial documents
- Review your credit history
- Develop a solid business plan
How to apply for a restaurant business loans?
Now that you know the various restaurant loan options we have available, you can now go ahead and apply for the most suitable option.
The best time to apply for a loan is when you are prepared. You need to ask yourself certain questions before applying for a restaurant loan. Here are some of those important issues.
Why does the restaurant need the money?
- When does the restaurant need the money?
- Has the business explored all the available options?
Assess your business's readiness to apply for the loan.
The success of your restaurant largely hinges on how you choose to operate it. By leveraging our business loans, you can embrace emerging technological trends such as marketing and social media. A diverse range of financing options can contribute to the growth of your business.
Where can I get a business loan for my restaurant?
Restaurant owners have had trouble getting financing for their businesses. Most restaurant businesses fail due to a lack of working capital and cash flow. Clearly, there has to be a solution to the restaurant financing problem to enable restaurant owners to access working capital easily.
The best part is that lending institutions such as Gokapital, are now offering restaurant business loans, which makes business owners obtain financing quickly.
Restaurant owners have had trouble getting financing for their businesses. Most restaurant businesses fail due to a lack of working capital and cash flow. Clearly, there has to be a solution to the restaurant financing problem to enable restaurant owners to access working capital easily.
The best part is that lending institutions such as Gokapital, are now offering restaurant business loans, which makes business owners obtain financing quickly.
The problems that restaurant owners face today
Running a restaurant can be quite expensive. Licensing fees, staff wages, equipment costs, and various other expenses can accumulate rapidly. To manage advertising, promotion costs, renovations, and the hiring of kitchen personnel, restaurants often turn to business loans. These loans help establishments function effectively and maintain their competitive edge. It is crucial for restaurant owners to liaise with lenders to confirm that they satisfy the necessary lending requirements.
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How FundNow Capital can help!
Daniel Smith (CEO): Access to working capital is crucial for the growth of any small business, particularly for restaurant owners. Successfully launching and maintaining a thriving restaurant demands a significant capital investment—be it for renovations, expansions, or acquiring a new location.
Undoubtedly, securing the right restaurant loan can elevate your business to new heights. However, it's unfortunate that many traditional banks have restricted the availability of loans for the foodservice sector. While it's a fact that over 60% of restaurants sadly close within their first year, a remarkable number of new establishments continue to emerge at a rapid pace.
FundNow Capital recognizes the challenges of running a restaurant, and we believe that securing a business loan shouldn't add to those difficulties. We offer seamless access to a range of alternative lending solutions tailored for restaurant entrepreneurs, including lines of credit, working capital loans, equipment leasing, and more.
Our straightforward online process ensures that restaurant owners receive funding swiftly and with minimal paperwork.
How can I use a restaurant loan?
Purchasing new equipment:
Are you in need of tables, ovens, furniture, or other business equipment? With our equipment loans, you have the option to lease or purchase the essentials you require.
Stock up inventory:
Stocking up on inventory ahead of a busy season will enable you to capitalize on the core strengths your restaurant already provides.
Marketing & Advertising:
Your food may be delicious and the location may have an amazing interior, but if clients don’t know about your restaurant, they will miss out on the experience.
Opening a new location:
The weather, neighborhood, floor space available, and physical accessibility to your restaurant will also have an impact on your revenue stream.
Cover Operating Expenses:
Having updated and accurate income statement and balance sheets will allow you to analyze areas in which you can best invest working capital to improve the performance of your restaurant business.
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