Restaurant Financing

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 loans

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 loans. We can finance up to 100% of the cost of the new equipment. You don’t need collateral when looking for an equipment loan because the equipment itself is collateral. Therefore, you don’t have to put any of your personal assets as collateral.

Unsecured working capital loans

Almost every restaurant at some point will require an unsecured working capital loan. They are short-term loans that assist restaurant owners in taking care of expenses and operating their business smoothly. Working capital loans enable restaurant owners to access fast loans for restaurants that aren’t too huge. The maximum loan amount for such loans is mostly $350,000.

Restaurant loans with bad credit

The loan terms and the interest rate depend on the loan size. Smaller loans usually have higher interest rates and a shorter repayment time as compared to bigger loans. 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 loan. 

Lines 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