A Restaurant Business Loan Will Fill The Plate
Revenue for the US restaurant industry was estimated at $799 billion at the end of 2017, up 1.7 percent from the previous year when adjusted for inflation. Of this $263 billion ascribed to full service restaurants and $234 billion to quick service and fast casual (the major growth sector). The restaurant industry is projected at nearly flat growth in 2018 as the unemployment level and disposable income is largely unchanged and same store sales continue to decline on average -1.1 percent. A restaurant business loan can provide you the financing needed to ensure success in this challenging industry.
Financing for a restaurant or bar can be difficult due to the nature of the business and a traditional lender’s uncertainty about lending to what is considered a high risk sector of the hospitality industry. As a result, a traditional lender will require a solid business plan, plus years of financial and credit history together with asset collateral to decide whether it is a prudent financial risk to extend a restaurant business loan.
Often a traditional restaurant business loan will require a minimum of two to three years of successful operations to be considered. The good news is that a restaurant business is no longer dependent on traditional financial institutions. Nexus Financial Services offers restaurant business owners alternative financing options, like a small business loan and a merchant cash advance, to allow owners the capital they need to strengthen their business and take advantage of new opportunities.
Whether you’re looking to attract more walk-in traffic, more revenue per customer, expand or remodel your local, add new kitchen equipment or technology, additional business capital can help you get there with ease. With our business financing options, whether a restaurant business loan or merchant cash advance, your additional capital can be used to finance:
Front Of House Improvements
- Purchase plates, silverware, or glassware
- Update floors, tables, decore
- Revise table layout for efficiency
- Remodel to expand seating
- Expand staffing
Back Of House Expenses
- Upgrade equipment like dishwasher, refrigerators, water heaters
- Replace equipment like ovens, deep-fryers, refrigerators, walk-ins
- Improve storage areas for improved efficiency
- Purchase small wares
- Upgrade safety conditions
- Modernize Point Of Sale (POS) System
- Integrate kitchen ordering with front of house
- Refresh restaurant web site
- Create restaurant mobile app
- Upgrade inventory/bookkeeping systems
Day To Day Operations
- Reprint menu and wine lists
- Replace menu covers, table tents, check presentors
- Purchase new staff uniforms
- Balance cash flow during down periods
- New/expand advertising
A Restaurant Business Loan Puts You On Everybody’s Menu
A Simple Process – Apply online in minutes, get approved in 48 hours and access to funds in 72 hours!
Higher Approval Rates – Approval for funding is based on the overall health of your business, not just FICO score.
Daily Repayments – Daily scheduled payments mean no large lump sums are waiting for you at the end of the month.
Flexible Terms – We offer terms up to 18 months and business funding amounts ranging from $5,000 to $500,000 so you can unlock your success.
Very High Approvals
The application process for our small business loan financing is simple and straightforward. Since we focus more on the strength of your business than your personal credit score, we have very high approval rates. Your business can receive a decision and get funding in just a few days. Our general guidelines are:
Business Age – Your business has been operating for a minimum of one year.
Monthly Revenue – Your business monthly revenue is a minimum of $5,000 in sales.
Credit Score – We take into consideration your business credit, but it is only one of several factors we consider.
Why Choose Nexus Financial Services?
Whether your business needs new equipment, additional inventory, more personnel, room to expand or an acquisition opportunity you don’t want to miss, we can help you obtain the financing your business needs to make it happen. Our small business loans and merchant cash advance are designed to help you start your business, manage the challenges as you build your business, or support you through the seasonal slow times of your industry.
At Nexus Financial Services, we provide a variety of financial options for small businesses. We are there for you when you need to make fast investments to take advantage of available business opportunities. Our small business loans and merchant cash advance can be approved within a couple of days versus the weeks or months of a traditional lending institution. Because we have the experience and understanding of small business needs, we also offer some of the best small business loans and financing solutions available that result in the success of our clients.