While it’s already difficult enough getting a loan if you’re a business owner, it can be downright impossible if you’re the owner of a restaurant. Thankfully, there are more than a few providers who are willing to offer restaurant loans. Check out your options and decide who’s worthy of helping you achieve your dream of operating your own restaurant.
ARF Financial
Check out ARF Financial if you need a bridge loan, a business line of credit or a working capital loan. As of 2015, you can get as much as $1 million for your loan for an 18-month term. What’s even better is they can quickly approve your loan with a minimum of paperwork. These guys serve up restaurant loans on a golden platter.
Apple Pie Capital
Apple Pie Capital is an especially good choice if you need a loan for a franchised restaurant. You’ll receive funding in 30 days or fewer, and like ARF you don’t have to worry about submitting a mountain of paperwork. Offered terms range from three to seven years, and you don’t have to worry about offering collateral.
Balboa Capital
Another great option for restaurant franchise owners, Balboa Capital currently offers restaurant financing for as much as one million dollars and $500,000 credit lines. Now you’ll have funds for furniture fixtures, remodeling, acquisitions and new restaurant equipment. Be sure to check these guys out if you’re in need of a quick loan; they can have you approved within an hour.
Business Loans Direct
In addition to restaurants, Business Loans Direct also offers lending for nightclubs and bars. The lender offers merchant cash advances, and you can apply for your loan directly online if you like. You can receive financing in 72 hours without worrying about collateral.
Bizfi
Know that Bizfli doesn’t specialize in restaurant loans, but they’re still a good option. They make the application process easy, and they’ve got everything from invoice financing and equipment financing to franchise financing and SBA loans. If you need it for your restaurant, chances are good that they have it. To get started with the application process and to determine just how much you’ll be able to borrow, you’ll first need to answer a few questions.
While there are several more options out there for restaurant and franchise owners looking to borrow money, these are among your best. Times are changing for the better for restaurants in need of working capital, so get started on cooking up the best lender for your restaurant and its future.