Restaurant Funding – Creative Financing Might Be Juste What You Ned

February 13, 2015 Posted by admin

So you’ve decided to open up a restaurant. You’ve got the location, the menu, the ambiance and layout of the restaurant all figured out, but now you need restaurant funding. Getting funding to open a restaurant is the toughest because there is such a high failure rate among in the restaurant industry.

You might have some cash of your own saved up that you are ready to use to get your restaurant open, but you’ll likely need a fair bit more. Whether you need money to buy assets like kitchen equipment, the food you need to stock the kitchen, menu printing, or salaries once the restaurant is open. The trouble is there’s few businesses that can get off the ground without some type of financing.

You have options when it comes to your restaurant funding. You can try traditional banks and see how that goes for you. However, if that avenue doesn’t work out, don’t be too surprised. You can look for investors that could be interested in investing in your restaurant. You would need to structure it as a limited company. Or you could search online for restaurant funding options.

These days, thanks to the internet we are no longer limited to traditional forms of lending. And there are some lenders that offer more creative forms of financing such as merchant cash advances. This unique system provides you with the cash you need. You install their credit card processing system, and they take a percentage of all your credit card sales. The amount is agreed upon in the contract. No qualifying, no strings attached, no fixed payment schedules. When things are good you pay more, when sales are down you pay less.

This creative form of restaurant funding is growing in popularity and you can see why. This is just one form of creative restaurant funding. There are others. Your internet search won’t disappoint you but you it might take awhile to find the right restaurant funding for you.

Save yourself time, know how much funding you need to get your restaurant off the ground. Have a list of your assets, and what type of payment scheme would work for you. That way you’ll be much better prepared to fill out the online applications.

Restaurant funding can be more difficult than other types of business funding, but it’s available, so don’t give up – find the right restaurant funding for your new exciting venue online. Creative financing might be just what you need.

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