RESTAURANTS
How to get Flexible Funding for your Restaurants
Ready to Grow Your Restaurant Business?
Our Secret Recipe for Helping You Get a
Restaurant Business Loan this year
From the Michelin 3 Stars to the corner food truck and everything in between. It’s a world where people, friends and family work long draining hours and every restaurant is unique, with specific challenges that often threaten their very survival.
When it comes to restaurant business loans, the options seem to outnumber restaurants! Our objective is to serve (pun intended) you with the best option for your restaurant.
Serving Up a Buffet of Financing Solutions for Your Restaurant Business Needs
In a survey of 740 restaurant owners, only 38 percent described their financial situation as “good to excellent.” The rest described their financial state as simply “adequate,” “poor,” or, in some cases even “dreadful.”
Our goal at United Fundings is to raise the bar for entrepreneurs seeking success in this industry by providing restaurant owners with easy access to a variety of business financing options, such as small business loans for restaurants.
We prepare your financing options so you can focus on what you do best: preparing your customers with wonderful meals that keep them coming back for more.
Why Would I Want a Restaurant Loan?
Our small business loans and merchant cash advances give you the flexibility to address the unique needs of your restaurant, some of which may include:
- Expanding your physical space to add more room for accommodating a higher number of customers.
- Remodeling your current interior and/or exterior to enhance your customers’ experience.
- Adding to or changing your menu to bring in new customers and keep your regulars wanting more.
- Purchasing new kitchen equipment or buying a new POS system to improve your restaurant’s bottom line.
- Building up your inventory to support any plans you might have for expanding your hours of operation.
- More advertising, enabling you to effectively attract a larger number of hungry customers and promote special events.
- Boosting your cash flow to help you better manage unexpected business expenses or slower seasons.
- Salaries, taxes, opening a new location, buying out a partner, or any other needs.
How To Use Restaurant Funding
Restaurant funding can provide the working capital you need to meet the unique challenges of running a restaurant, such as:
- High operating and food costs.
- Complexity of managing inventory.
- High employee and customer turnover
- Fluctuations in real estate value and lease payments.
- High competition from other local eateries.
- High cost of repairing appliances and equipment.
- Changing customer preferences, such as increasing demand for home delivery, local sourcing, zero-waste cooking, and healthy options.
Restaurant loans can also provide cash flow that you can use to improve or expand your restaurant. Use your funding to:
- Upgrade technology to streamline your operations and offer new services like takeout, delivery, or catering.
- Replace old appliances and equipment with newer, energy-efficient models.
- Remodel your space to create an inviting environment or an outdoor dining space.
- Develop a website capable of online or app ordering.
- Expand to a larger space or open a second location.
- Invest in staff training to provide the best possible customer service.
What Kind of Restaurant Loans are Available?
When applying for a restaurant loan, many options exist. Some of the most common unsecured and secured restaurant loans are:
- Short-Term Business Loans
- Small Business Association Loans
- Business Lines of Credit
- Merchant Cash Advances
- Working Capital Loans
- Inventory Loans
- Equipment Loans
- Commercial Lending Loans
We even offer loans specifically for women and veterans.
What Do I Need to Know Before Applying for A Bank Loan?
You want to keep certain information in mind before beginning your restaurant loan process:
- Why you need the money,
- How fast you need to receive it,
- Which restaurant loan option is the most suitable for your situation,
- Some banks aren’t fond of giving out restaurant loans. Make sure you understand how difficult each route will be.
Realizing this up front will save you the heartache if you are declined for a loan. Many restaurant-focused loans tend to be of higher risk, which means that most banks don’t want to approve them.
What Kind of Questions Will the Bank Require Me to Answer?
If you plan on obtaining a restaurant loan through a traditional bank lender, be ready to provide any requested information related to:
- Your restaurant experience (especially if you’re just starting out)
- The length of time you’ve been in business
- Your business plan
- Your credit history and money management skills
- What type of collateral you have, if any
- How much money you need
- What you want the money for and, more specifically, how you plan to use it
- Your ability to repay the debt
Realizing this up front will save you the heartache if you are declined for a loan. Many restaurant-focused loans tend to be of higher risk, which means that most banks don’t want to approve them.
Why Choose United Fundings as an
Alternative Restaurant Loan Option?
By using United Fundings, you’ll be able to skip many of the questions asked by banks, avoid lengthy paperwork, and not worry about your less-than-perfect credit score (if applicable). We offer you the opportunity to obtain the financing you need for your restaurant without stacking limitations or exclusions on your loan terms.
United Fundings provides you with multiple direct funding sources and a fast approval process, unlike conventional bank loans.
Whether your needs are best suited for one of our small restaurant business loans or a merchant cash advance, you can quickly qualify for anywhere from $5,000 to $1,000,000 to satisfy your financing needs.
With our flexible restaurant financing options, you have the freedom to handle any business expense you desire. You may even qualify for additional financing before completing your loan repayment, should the need arise.
In short, with our help you enjoy
• Fast financing, in as few as two business days.
• No restrictions on how you use your money.
• The ability to fund your restaurant, even if you have poor credit (550 and above).
• Flexible repayment options to ensure optimal cash flow.
Let’s Get Started!
Restaurants all over the U.S. and Canada are enchanting their customers with savory meals thanks to a Merchant Cash Advance or short-term Business Loan from United Fundings’s.
If you’re interested in joining them, get your loan process started by applying today and we’ll get back to you within one business day.
Get the cash that you need to succeed by applying today for a Restaurant Loan with United Fundings
Talk to us today and see how much financing you qualify for in order to grow your business. We’re with you and your restaurant every step of the way!