Restaurant and Bar Financing

by | Jun 20, 2013 | Merchant Cash Advances

Listen Now

The alternative lending industry evolved via restaurants and bars. They are large users of credit card processing. Their processors, about 15 years ago, figured out how to find financing for their clients (primarily restaurants and bars) by lending to them themselves. Restaurant and bar financing evolved and was termed Merchant Cash Advance.

Today there are many forms of restaurant and bar financing that are available including unsecured funding against future receivables, factoring, and asset based funding. Alternative lenders have made restaurant and bar financing a pretty simple process for business owners. They usually go the MCA route and have their payments taken directly from their processing. Companies like Small Business Funding are a one stop shop for all financing needs. They partner with all the alternative lenders throughout the country and have the knowledge and understanding to negotiate the very best terms on behalf of the owner. They handle the process from application through funding. The process becomes seamless and hassle free. Small Business Funding’s experience and skill affords having the restaurant and bar owner a team working for them.

Restaurant and bar financing provides a cash infusion to help pay for new equipment, upgrades, hire new staff, buy another location, or just for working capital to give breathing room. Another good use comes in handy if its a seasonal business. When the customers thin out the bills just keep on coming. Extra cash to help ease your way through the off season is always helpful and available through alternative lenders. The amounts you can be approved for run anywhere between 25% and 200% of either your monthly credit sales (if an MCA loan) or 20-30% if an unsecured business advance. If the restaurant or bar is owned free and clear they can get an asset based loan on the real estate for lower rates and longer terms. Terms run usually under 9 months. Again, it may appear that if they own the real estate they should have no issues getting a bank loan but if their credit is weak a bank will not finance even with collateral.

To get your approval for restaurant and bar financing visit Small Business Funding or click here to apply now for restaurant and bar financing.