Are you a restaurant owner looking for immediate working capital? Did something happen where you need to repair or fix something to keep your restaurant running? We can help. In this article, we will help you get the best same day capital for restaurants.
What is a Restaurant Business Cash Advance?
A restaurant business cash advance is a quick way to receive funds within the same business day for emergencies, or just to streamline your business. Business cash advances are a type of merchant cash advance, which gives you an advance based on your future credit card transactions.
Business cash advances are a more convenient form of merchant cash advance because we don’t look at your credit card transactions, but rather your general business cash flow.
Whether or not you have good credit or bad credit doesn’t really matter with business cash advances. What matters the most is your cash flow. If you make $5,000 a month or more within the last three months then you are 70% of the way to getting same day capital for your restaurant.
Why choose a Same Day Capital for Restaurants
A restaurant business cash advance can be used for anything you want, and one of the most beneficial components of a business advance is no collateral is required.
Unlike big banks that require a near perfect credit score, collateral, and two years in business, a same day restaurant advance only requires a 450 credit score, no collateral, and only six months in business. That is why merchant cash advances and business cash advances are trending upwards now. Big banks won’t touch a small business anymore.
Using your Business Advance to grow your Restaurant
I started working in restaurants when I was 16. I noticed right away that the dishwasher required detergent, rinsing agents, and no streak drying agent every couple of weeks. We also needed flatware, glassware, and utensils replaced every month as well.
The cooks also needed egg pans, knives, plastic gloves, hair nets, floor mats, deep fryer oil, cooking wine and oil, and a ton of other things ordered weekly to keep cooking.
Restaurants are the most capital-intensive industries in the world. They make great profit, but their overheads are through the roof, as you know. Just electricity and water alone can be thousands of dollars per month, and if one big thing breaks down, like refrigeration or a hood fan, you are shelling out an extra $10k on top of regular expenses.
Acquiring restaurant working capital is crucial to keeping your doors open. It only takes five minutes to see if you qualify. Again, the requirements are easy and straightforward: 6 months in business, 450 credit, and $5,000 in revenue per month in the last three months.
Why Us for Same Day Capital for Restaurants
Restaurants were the hardest hit recently, with over 120,000 or more succumbing to the lockdown. We are intent and very serious on keeping every restaurant open going forward.
We are passionate about helping small business owners because we have owned small businesses ourselves. Some of us have watched our parents and grandparents lose their businesses. And, some of us have seen the big corporations wipe out half a town with their chain restaurants.
When you work with us you are given a dedicated account manager who helps you get what you need. You also can draw on funds repeatedly when you pay down the first advance. We have transparent terms and have one of the fastest if not fastest funding times in the industry.
Learn More About Our Same Day Capital.