Alternative finance has certainly been hitting the headlines recently and all thankfully for all the right reasons. As we know traditional lines of funding through the high street banks has become difficult. The high street banks have become strict with their underwriting criteria and the process slower. Finding restaurant loans shouldn’t be complicated especially with so many alternative forms of finance in the marketplace.
So what are the alternatives for restaurant loans?
Well the great news is there are many news to find funding for your business – some are more tailored than others. Here at Merchant Loan Advance we have a specialist restaurant loans product in the form of a business cash advance. This type of funding falls into the category of alternative finance which has the backing of the UK government.
By exploring non traditional lines of funding such as our restaurant loans solution you will find the process more transparent and ultimately quicker.
How do restaurant loans work?
The business cash funding works with your credit and debit card sales. Based on your monthly card machine turnover we can help advance you the amount you are looking for. There is no APR and the product is unsecured which means there is no personal security required.
We simply agree with you a payback amount and a percentage of future card sales is taken from each future card transaction until the loan amount is paid off. The payback works with your cash flow for example if you have a slow month you payback less based on your lower sales. If you have a bigger cash flow month you payback sooner based on the increased amount of sales on your card terminal (PDQ machine).
We have helped fund many restaurants up and down the UK with a business cash advance. All have found the service to be quick and helpful to their restaurant cash flow. Apply to see if you qualify – we have a very high acceptance rate and decisions are usually within the hour.