Restaurant Funding
The ability to secure funds for your restaurant is a crucial ingredient for success. Whether you're just starting out or you've been in business for years, a PaymentCloud partner can help you secure the financing your restaurant needs.
- Straightforward application
- Expedited processing
- Flexible terms
- Dedicated customer support
- Numerous financing options
- Fast approval
3 months minimum credit card processing required to apply for fundingSmall Business Loans For Restaurants
With relatively high operating costs, restaurants typically require significant capital investment. While small business loans for restaurants can be difficult to obtain, PaymentCloud has the resources and experience necessary to secure whichever funding option is most advantageous for your operations. (Don’t know which restaurant financing solution is best for your business? We can help with that too!)
- Bars & nightclubs
- Bakeries
- Pop-up restaurants
- Cafes
- Specialty food stores
- Pubs & breweries
- Food trucks & caterers
- Ghost kitchens
- Coffee shops
24 hrs
Average Funding Time
200,000 +
Fundings Completed
1,000 +
Long-term Business Relationships
1.5 billion +
Financing Secured
Restaurant Financing Options
Success in the restaurant industry requires more than simply serving delicious food. There are many behind-the-scenes costs: rent, utilities, staff salaries, and ingredients—just to name a few. If you don't have the cash on hand to cover these expenses, you’ll need to find another means of financing your business. Fortunately, there are several financing options available to restaurants.
SBA loans:
The Small Business Administration (SBA) is a U.S. government agency that provides financial assistance to small businesses. The most common type of SBA loan is the 7(a) loan, which merchants may use for a wide range of purposes, such as working capital, equipment purchases, and real estate development.
Equipment financing:
Equipment financing is a type of loan through which you can finance the purchase of new equipment. The equipment itself can be used as collateral, making the interest rates lower and the approval more likely. Equipment leasing is also another option where you can get the necessary equipment for your business without a large upfront payment.
Bad Credit Loans:
Borrowers with lower credit scores can obtain bad credit loans. This funding can be used for a variety of purposes, including consolidating debt, financing a major purchase, or paying for unexpected expenses. Bad credit loans are an excellent option for borrowers unable to qualify for traditional types of financing.
Franchise Financing:
A popular way to expand a restaurant business, franchising offers the benefits of a proven business model and brand recognition, as well as the potential for lower start-up costs and reduced risk. With careful planning and proper execution, financing a franchise can be a great way to achieve your business goals.
What Can I Use a Restaurant Loan for?
Because restaurant operations depend on so many moving parts, owners may find themselves in need of financing for a number of reasons. Fortunately, PaymentCloud helps restaurant owners secure working capital that may be used for a variety of purposes.
Upgrade equipment
Without upfront cash, business owners may be unable to update worn-down equipment. By taking out a loan, you can spread the lump sum cost of equipment out over time. In doing so, you can generate revenue from your updated equipment before you start making repayments.
Hire more staff
Being short-staffed can negatively affect a restaurant’s reputation and revenue. However, hiring reliable employees requires time and money. With the extra funds from a restaurant loan, you can invest capital into acquiring, nurturing, and retaining talented servers.
Purchase inventory
Inventory purchased in bulk is usually discounted, but purchasing in bulk requires quite a bit of upfront capital. To access discounted prices, some business owners take out a loan to purchase inventory in bulk. The lower price per unit can save you a significant amount, so much so that it may outweigh the interest you’ll pay on the loan.
Expand to more locations
Expanding into other locations can be a costly undertaking for any business, but especially for a restaurant operating with thin profit margins. A restaurant loan can help you cover the costs of expansion, so you can increase your reach and grow your business.
Buy an existing restaurant
When you buy an existing restaurant, you inherit a customer base, a stellar reputation, and an established location. Such advantages often make buying an existing restaurant a wiser choice than starting a new restaurant business.
Explore potential partnerships
Securing a loan communicates to potential partners your commitment to opening a restaurant. If you plan to partner with investors, having already acquired some financial backing can boost their confidence, as well as their financial commitment.
Why a PaymentCloud Partner for Restaurant Funding?
PaymentCloud partners have a deep understanding of the restaurant industry and the challenges businesses face in securing funding. Whether you’re looking for a short-term loan to cover unexpected expenses or a long-term loan to fund expansion, our streamlined application process can get you approved in as fast as 24 hours. Contact us today to learn more about available restaurant funding options!
Recently Funded Businesses
$100k
Working Capital
$50k
Restaurant Funding
$30k
Merchant Cash Advance
$75k
Business Funding
Bar & Restaurant Loan Requirements
When evaluating a loan application for your restaurant, there are a few key requirements lenders take into account:
- Credit Score: Your business credit score communicates the financial risk associated with lending money to a business.
- Business Plan: Creating a business plan outlining your short- and long-term goals helps lenders understand your vision for your restaurant and how you’ll repay the loan.
- Collateral: Before approval, some lenders may request a form of collateral. Because collateral lowers the lender’s risk, it increases the likelihood you’ll be approved for a loan.
- Financial Documents: Gather financial statements, including tax returns, profit and loss statements, and balance sheets. These statements demonstrate the financial health of your restaurant.
How to Apply for Restaurant Financing
With a dash of research and a pinch of preparation, applying for a restaurant loan can be a relatively painless process. When you're ready to apply, simply fill out our online application and one of our loan specialists will reach out to discuss your options.
Get started today and see how we can help you grow your business!
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Alternative Loan Options
With so many alternative options, restaurant owners don’t have to rely solely on traditional bank loans for funding. Below are a few of the financing alternatives PaymentCloud can help you secure.
Merchant cash advances
A merchant cash advance is a short-term loan repaid via your restaurant’s credit card sales. Merchants can typically access funding within a few days, making it an attractive option for those who need quick capital.
Startup loans
A startup loan is a type of business loan assisting early-stage businesses in raising the capital they need to get off the ground. Unlike traditional business loans, which are typically granted based on a business’s creditworthiness, startup loans are often awarded based on the potential of the business to succeed.
Invoice financing
With invoice financing, a business can borrow money against the value of its outstanding invoices. This can be useful for businesses experiencing hindered cash flow due to outstanding invoices.