If you own a restaurant and you are having a good bit of business, a time will come when you would want to expand your business. Even if you could afford, you would not want to invest your all your earnings into this venture. You may want to consider a restaurant cash advance. But getting a restaurant business loan is not easy, and even you could manage getting a business cash advance, it could take a month or two or even more to get the cash you want. It would be futile approaching the banks for this loan because banks have strict stipulations which could be very difficult for you to meet.
You may need restaurant cash advance to meet the expenses of your forecasted sales coming in few months’ time, or want to do some remodeling or exchange your older guest tables. Even if you can meet the criteria of getting a bank loan, business cash advance would never come through within 6 to 10 days. You need a lender who would provide you with unsecured business loan within a very short period of time. Business cash advance based on your credit card processing is an easier and simpler way to get a business loan.
Since you have a restaurant business, you would be accepting credit card payments from your customers. Put your credit card transactions into use to get the restaurant cash advance you are looking for. This is an alternative to bank loans. There are lenders who would be ready to advance you the money if you have good sales against credit cards. Based on this you can get business loans from lenders. The lender would like to see a good record of your recent credit card sales to make the business loan available to you. Your business loan amount would depend upon the average monthly volume of your credit card transactions.
The repayment terms of your restaurant cash advance would be in the form of a small percentage out of your daily credit card transactions. The repayment period is generally 4 to 6 months and you have the option to repay the outstanding loan amount at any point of time. The repayment is very flexible which cannot be found in any other type of lending. If your business is low during some months, your repayment for that period will be lower since repayment is based on the percentage of your credit card sales. Hence this method of repayment is easier for small business owners.
While applying, you would be required to fill up a one page application form, and provide your business documents along with the application. Lenders provide you with restaurant cash advances based on your credit card sales transactions. However, there is always a risk involved and for this reason the interest rate charged on the loan is a little higher than the usual.
If you are looking for restaurant cash advances for re-modeling your restaurant or meet your immediate business expenses, go for quick cash loan against your credit card transaction record. Get the financing you’re in need of quickly with business cash advances by filling our one page application.
Restaurant Loan Alternative Benefits
Simple and easy to apply
$5,000 - $10,000,000 Funding options
7-10 day funding for $500,000 or less
No fixed monthly payment
No fixed terms
Use Funds for any purpose
Pre-Approval in 24 hours