If you are looking for finance for restaurant business you have found the right product. With a merchant cash advance it offers a very specific type of business loan for restaurant businesses.
Alternative finance for restaurant business
With our product we offer a breath of fresh air when it comes to business finance. First of all it doesn’t work in the same way as a traditional business loan.
You may have already approached your bank and found they need security against the loan and even if they could fund your needs you would expect to pay back a set fee per month.
For starters with a merchant advance there is no set APR. You pay back against future credit and debit card sales. In other words when you make a sale a percentage of that sale is paid back to the lender.
This way you only pay back in line with your cashflow which is not the same as a bank loan which requires a set amount to be repaid whether you have had a quiet month or not.
It is indeed classed as alternative finance as it offers a true alternative to traditional funding. Not only are the repayments flexible with your cashflow but the funding is unsecured which means the lender requires no business or personal asset to be secured against the finance borrowed.
There are no hidden fees, late payment penalties and so on. The loan is incredibly transparent and is being used by thousands of restaurant businesses up and down the UK. In fact the entire hospitality sector is the main category for this type of borrowing as card payments are widely used.
If you are in the process of searching for finance for restaurant business or you have already received quotes from other sources you should get a quick quote from us.
Our decisioning which will give you a no obligation quote is simple. In some cases we have seen a decision in a few minutes with funding available for transfer on the same day.
We have a very high acceptance rate and our underwriting team understand the restaurant business and the challenges a business owner faces day to day. From simple cashflow deals through to new development funding our cash advance product can be used for any purpose.