If your restaurant is in need of immediate cash, a restaurant business cash advance might be the right fit for you. Over 1 million restaurants operate in the US, and was the hardest hit industry last year with more than 100,000 restaurants closing permanently.
Big banks have also snubbed the small business owner, as their approval rate to issue loans is a dismal 13%.Since they have a larger market, they can cherry pick the best restaurants to lend to.
Restaurant capital is hard to come by, especially next day or even same day. But, we understand business emergencies, especially the restaurant industry. We offer up to $25,000 immediate, same-day working capital for your restaurant, cafe, or catering business in the form of a business cash advance.
What is a Same Day Restaurant Business Cash Advance?
A same-day business cash advance is a form of merchant cash advance, but instead of giving you a lump sum advance based on your future credit card receipts, we base your advance on your revenue from your business checking. Cash flow is more important than your credit score in this case, which makes it a great financial product for bad credit restaurant owners.
Benefits of a Business Cash Advance
A business cash advance can give you relief within one business day. You also only need a 450 credit score and no collateral is needed. Business cash advances are short term funding solutions, typically no more than a year in term length.
Business cash advances can get you back in business very quickly, and we work with over 700 industries, whereas big banks only work with a few dozen industries.
Also, business cash advances are automatically deducted via ACH through your bank on a daily or weekly basis so you don’t need to remember to make payments.
How to use your business advance to grow your business
You can use the working capital for anything you want. Restaurants are one of the highest capital intensive industries around. Typical commercial restaurant equipment is through the roof; $900 for a deep fryer, $2000 for a steam table, and $4500 for a hood fan is not uncommon. Restaurants are constantly bombarded with repair costs and running costs.
With same day working capital, you can do some of the most important things to get your business back on track. Here are just a few:
One – Pay an accountant to come in and audit your books. They can see outside of the box and catch things that have been taxing your business profit.
Two – Create incentives to hire new staff. Restaurants have one of the highest turnover rates, and nothing would inject better work ethic and enthusiasm than hiring quality staff. You can create a sign-on bonus and search for the best candidates on Zip Recruiter and indeed.
Three – Repair equipment and pay off old debts. Nothing feels better to wipe the slate clean and walk into your business knowing your debts are paid off and your equipment is new.
Four – Finally, and most importantly, get the word out about your restaurant, cafe, or catering business. Create a new launch party or grand opening, create a couple new menu ideas to re spark business, and run a featured business ad in Yelp, Yellow pages, and Google Ads.
Why Choose Us for Your Restaurant Business Advance
We offer the lowest qualifying credit score and fastest funding times in the industry for same-day working capital. We will give you transparent terms, a very easy application process that won’t affect your credit score, and a dedicated account manager to see that your needs are met. You can also come back and withdraw additional funding when your first funding is paid down a little.
We offer two types of funding. We can offer up to $25,000 the same business day, and up to $2 million in 3 to 5 days. Below are the full details:
Having fast business funding is crucial in today’s market where everything is flying past us. It takes more and more resources and technological advancements to maintain that cutting-edge in any industry.
Please click the button at the bottom and fill out the 5 minute application to see if you qualify. Again, it won’t impact your credit score and you can decline the offer if it doesn’t suit your needs. I wish you all the success in the world with your business. I don’t mean this lightly, I worked back-of-house for over 20 years myself!