Wednesday, April 25, 2018

A Restaurateur? Jumpstart with Small Business Loans for Your Restaurant


When you own a restaurant or in starting to own one, you have a list of unending things to spend on. The list starts with paying for the place, set up & equipment charges, salaries for the employees and maintaining the supplies. Along with these are costs involved in promoting your restaurant. Managing a restaurant is in itself a challenging business, and the challenge is quite tough for the people who are getting a foothold in their sector. According to reports published by CNBC, only 40% of the new entries continue to thrive even after a year of their opening. However, the success rate of those completing 5 years is even low which is 20 %.
Quoting David Gilbert, CEO of a leading small and medium-sized business loan providing agency “A lot of people get loans that aren’t large enough”. He further opines “Most businesses fail because they are undercapitalized. You’ll stand a better chance of succeeding if you understand what your financial needs are.” For maintaining the standards required for keeping the existing customers engaged and drive in new customers it is very obvious, that you will need to invest a lot of money and time. For that, you will need a smooth influx of working capital. So apart from rolling out your business profit, you can have small business loans for your restaurant at any time to fill in the gaps of the cash flow. 


However most of the traditional lenders consider restaurant loans risky investments and for getting the approval you will have to show authentic experience in service industry, good credit history, and a convincing business proposal even for the approval of one-third of your desired business loan. Hence at BusinessAdvanceFunding, we always aim at providing you service that empowers you to cut through the red-tapism of the traditional lending procedure. Restaurant loans at BusinessAdvanceFunding come with a very simple and fast application procedure that is completely online. With 24/7 online application system, we will view your loan application and can provide you with the $500,000 directly deposited to your account.  
Restaurant Loans for Making Bigger Investments –

Availingrestaurant business loans can be a good decision if you have expansion in mind or you want to refurbish the kitchen or open up the 2nd outlet, you can try our loan options which have the flexibility of loan amount and loan tenure. If you need a loan on lower terms but a long life tenure, BusinessAdvanceFunding can provide you one. There are lots of other loan option and you can try any of those and choose the loans that suit you the most. Following are the four basic types of restaurant business loans you can avail from us
 •  Restaurant Equipment Loans To furnish your kitchen with that dream look comes with a price tag which will definitely not be very low. To get the glass top twelve burner hob or installing a high-end chimney, everything needs extra funding. Equipment loans from BusinessAdvanceFunding hence have been designed specifically for the purpose of funding the equipment for a restaurant business. Typically charging a fixed rate of interest. These loans cover only the costs of the equipment. The additional costs of delivery and installation will be your pocket expense. 



•  Working capital Loans In the genre of small business loans for restaurants working capital are all-purpose loans. To be very specific, these are limited period loans that help in meeting up the business expenditure apart from the smooth operation of your business by maintaining an equal cash flow throughout the season. At BusinessAdvanceFunding we can offer you maximum $500,000 as working capital finance.
   Inventory Financing –BusinessAdvanceFunding provides a solution of debt-based funding which are typically availed by business for purchasing inventories and can be in any form, line of credit, term loan, short-term loan etc. the functioning is similar to equipment loans, but here the inventory acts as the collateral.
   Line of Credit –This restaurant loan by BusinessAdvanceFunding highly suitable for those who food business is seasonal. The credit line will be at rest in peak season as at that time there will be no shortage of cash at that time. However, it would be highly useful in offseason when you might run out of cash for a smooth functioning of the
Bottom Line about Business Loans for Restaurants –
AtBusinessAdvanceFunding we are always keen on providing all the necessary monetary support for all the all the hotelier community out there or those who are planning to set their feet in this sector. Hence,lending up to $500,000 as a small business loan for restaurants from BusinessAdvanceFunding can be just the right choice for meeting up the monetary needs of your business paving the path of your success. 



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