Restaurant loans and Financing
Traditional lenders tend to view restaurant loans as a risky investment and may require you to cut through a lot of red tape to get the Restaurant loan that you need. Shop Your Bank is able to obtain funding for your restaurant with a team of experts that can very quickly identify what kind of Restaurant loan that will work best for your unique lending needs. From start to finish we do it all.
There are numerous things to spend money on when you own a restaurant. You’ll need enough capital to pay your lease, buy equipment, pay a staff, and buy supplies. You’ll also need to factor in the cost of signage and promotion to make sure customers know where to find you. Business owners can use a restaurant loan to purchase or repair the equipment needed to get their business started, or keep their existing restaurant running smoothly with needed repairs or upgrades to their equipment. Should there be an increase in demand, a restaurant equipment loan can be used to purchase additional equipment to meet those needs.
A restaurant loan can provide the funds you need to assure your restaurant remains stocked with the ingredients and product needed for your food and beverage needs. This can also include funding to pay staff to work in your restaurant
A restaurant loan can itself come in various forms, commonly as a term loan or a small business line of credit. It’s used to cover equipment and inventory costs, as well as payroll and working capital. But no matter what you’re looking to use your restaurant loan for, you’ll have to be very prepared to apply for one before you get started. Give us a call to learn more….
