FUNDING FOR RESTAURANTS
Restaurant Financing
Accessing business funding shouldn’t be hard or time-consuming. Cheetah Capital 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.
Cheetah Capital 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 funding to keep their ventures running all year.
Speak to one of our representatives today by calling 781-918-8024. We can help you gather all the insights to understand your financial situation and goals, and we can suggest the best funding plan for your restaurant.
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 working capital
Restaurant owners understand how expensive acquiring new equipment, repairing or replacing broken restaurant equipment can be, especially baking equipment such as ovens. You can still upgrade your restaurant equipment to the most state-of-the-art equipment through restaurant equipment working capital. We can finance up to 100% of the cost of the new equipment. You don’t need collateral when looking for an equipment financing because the equipment itself is collateral. Therefore, you don’t have to put any of your personal assets as collateral.
Unsecured working capital
Almost every restaurant at some point will require unsecured working capital. They are short-term funding that assist restaurant owners in taking care of expenses and operating their business smoothly. Working capital enables restaurant owners to access fast funding for restaurants that aren’t too huge. The maximum amount for such funding is mostly $1,000,000.
Restaurant funding with bad credit
The terms and the interest rate depend on the amount. Smaller amounts usually have higher interest rates and a shorter repayment time as compared to larger amounts. 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 funding.
Restaurant line of credit
Restaurant owners can testify on how costly it is to cover food costs. If you need to finance inventory purchases for your restaurant business, consider inventory financing. It can be in different forms: short-term, medium-term, or a line of credit. Inventory financing is for the specific purpose of purchasing stock for your business.
Small Business Administration (SBA) loans
Restaurant loans are SBA’s largest form of approved business loan. With SBA loans, the government acts as the guarantor by giving assurance for the money restaurants get from SBA. All you have to do as a restaurant owner is to ensure that you have everything ready to make it easy for SBA to invest in your restaurant. Here are things you need to know about the process of applying for SBA loans for your restaurant business:
Ensure that you have relevant business experience
Prepare your financial documents
Check your credit history
Develop a business plan
How to apply for a restaurant business funding?
Now that you know the various restaurant financing options we have available, you can now go ahead and apply for the most suitable option.
The best time to apply for a funding is when you are prepared. You need to ask yourself certain questions before applying for restaurant funding. 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?