Smoothies and juices have been a growing trend over recent years. In addition to increasing popularity, they are also constantly evolving. Now they are used for a wide variety of things from post-workout to full on meal replacement. This means there is a lot of opportunity for small businesses within this industry. New trends are also emerging that add even more new opportunities. Although there is great potential in this industry, it can still present some challenges. Small business owners in every industry know that running a business is no easy task. There are many expenses associated with juice & smoothie bars. Rent, equipment, payroll, inventory, etc. all can add up very quickly. Luckily, there are banks, credit unions, and alternative lenders that provide juice & smoothie bar financing.
You can get juice & smoothie bar 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 juice & smoothie bars. 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 juice & smoothie bar 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.
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.
Juice & smoothie bar 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 juice & smoothie bar to be a great success and make all the delicious drinks that people love. Apply for a small business loan today and find out how much your juice & smoothie bar is approved for. There is absolutely no obligation.