Restaurant Cash Advance – Quick Source of Funding For Restaurant Business

by Sophia Capari Chief Financial Officer

Business expansion is one thing that helps in business sustainability and for the future growth of the business. Being a customer, enjoying good food is a pleasurable thing to do. Thus, restaurant investment is one profitable business dream. To fulfill this dream, just like any other business, a restaurant business needs funding.

Many financing options are available but there might be some emergency requirement which cannot be fulfilled with business loans financing due to compound loan requirements and procedures involving huge amount of paperwork, security collateral and personal guarantee. It takes many weeks to receive the funds in hand.
To be able to secure a loan, only the fittest can get one who can convince the lender about the restaurant business feasibility plan. Also a good credit score is additional criterion for availing restaurant financing with collateral as security.

Business Cash Advance – Quick Restaurant Funding Source
Business cash advance has transpired as the best alternative to traditional restaurant funding. Unlike traditional lenders, business cash advance lenders don’t require security collateral or personal guarantee to get the funds. Business cash advance is like an unsecured loan, where the borrower pays a fixed amount of percentage of the credit/debit card sales with flexible repayment terms to the lender. With restaurant cash advance you can buy new kitchen equipment’s and supplies, a new walk-in, with effective marketing strategy for your restaurant business growth.

Advantages of Business Cash Advances
Business cash advance in form of restaurant loan is easy to qualify for, that can get you the money instantly. Though it carries a higher capital cost than traditional restaurant loans but the minimal credit requirements makes it a smart funding program for restaurant businesses. Traditional lenders are unwilling to offer loan to restaurant businesses having poor credit rating. While business cash advance lenders doesn’t take into account the credit ratings of the borrowers. On top of it, a business doesn’t have to secure a collateral or personal guarantee to get the funding which is perquisites for getting a loan from traditional lenders. Also you can use the funds as you thinks fit.