Sports bars are part of a thriving industry. People love to go to sports bars whether its for watching their favorite team play or just to hangout. There are also plenty of bar and restaurant trends that create many opportunities in this industry. Although it is a healthy industry, running a sports bar can be difficult. There are a number of expenses that come with operating a business like payroll, rent, inventory, etc. These expenses can add up fast and become a burden. Yet, there are banks, credit unions, and alternative lenders that can provide sports bar loans.
Small Business Funding has a merchant cash advance program specifically for businesses such as pizza shops. We understand the necessity for a fast cash infusion and finding someone who can facilitate the funding makes your life easier.
Although there are many options for sports bar loans, banks and credit unions make it harder to secure them. 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.
With Small Business Funding it is easier to get the financing that your sports 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.
Sports 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 sports bar to be a great success. Apply for a small business loan today and find out how much your sports bar is approved for. There is absolutely no obligation.