Quick and easy financing options – merchant cash advance- for your food service business

Do you own a restaurant, coffee shop, fast food outlet or any food service business? Do you have plans for expanding or stocking your inventory? Or do you have a sudden expense to meet? If the conventional banks and other lenders have turned down your application for a loan then remember that there is a quicker and easier way to get funds- merchant cash advance. There are times when you need money real quick and when you might not be able to choose a traditional bank loan due to a lot of reasons merchant cash advance and unsecured business loans are handy in such cases.

Banks are not OK with bad credit

The most popular choice of lenders is the banks but then there are some limitations.

  • Banks do not assist businesses with bad credit. For that, you would have to look for a bad credit OK merchant for financing.

  • Banks might ask for a collateral which might not always be possible if you have taken a place for rent or lease, for your restaurant.

  • Banks ask for purpose of the loan. There are some standard loans that are available from banks but there are expenses that do not fall in any of the standard categories.

In all such cases where your food service business is denied loans or funds from standard lenders merchant cash advance funders are of great help. Running a food service business is not an easy job if you do not have a quick source of finance ready at hand. If you do not receive funds when you really want them if the processing of the application for a loan takes a lot of time then there is the risk of the reduction in the working capital and the reduction in profits as well.

Merchant cash advance – for any expense

There are many reasons where food service businesses need sudden funds. Here are a few:

  • There is a tough competition out there. So if you really want your business to keep up with the trends then you would have to incorporate new ideas and expand your business when required. For business expansion, for buying all the new products you might need and to hire the new team that would be required you need funds.

  • Even if you have been maintaining your tax records well there are situations where tax liabilities might call for sudden payments.

  • Another measure to tackle competition is to strengthen the marketing campaigns for your food service business and this again is an expense that doesn’t fall in the standard loan categories. And so you would need bank loan alternatives, like merchant cash advance.

  • If there is a new equipment that you find which might enhance your restaurant kitchen or help improve the process then you might need funds to purchase that.

If you have a bad credit, resolving your credit and meeting all the sudden financial requirements is possible with merchant cash advance.

The types of food service businesses that benefit the most from these alternative funding solutions are:

  • Food trucks

  • Food Joints

  • Coffee shops

  • Bakeries

  • Ice cream shops

  • Snack joints

  • Bar and lounge

  • Nightclubs

  • Catering services

Food delivery services and all others including the restaurants big and small. For the small businesses making profits would be a prime focus. There would be a lot of expenses that would have to be met till the business is strongly established and a steady cash flow starts coming. For all this to happen it takes time and until that time focusing on a credit score would not always be easy. And with multiple loans already being paid, it would not be a simple task to get additional finances from most conventional financial institutions. So small businesses and new businesses find merchant cash advances as a boon!

Getting 2


position loan and more

Restaurant businesses are profitable. But that doesn’t always guarantee that you would be able to meet your 2nd, 3rd, and all subsequent position loans. One small mistake that most food service businesses do in such cases is to rush to apply for another loan for these. A better idea, a more convenient and a quick one would be to rely on a merchant cash advance lender who can take care of your 1st, 2nd 3rd and even 10th positions and allow you to streamline them into simpler and more manageable payments. You would be able to save a lot of money when you do this. And the money saved is money earned after all.

When there are different loan positions there is always a complexity attached making the situation financially tough. This is why the option of being able to convert the whole thing into a single payment loan would appear to be a more comfortable option. So you would be able to focus on your business and how to develop it rather than on how to manage the loan positions and how to gather funds for them.

Easy increments- so you are always ready

There is no one-size-fits-all approach when it comes to financing. Even the businesses of the same size and the same industry might have different requirements of funds. So there are convenient increments and finance amounts that you can choose from. And even for your own business today you might need to say 10K dollars if there is, for example, a minor repair or replacement of equipment to be done. But in future, you might perhaps consider opening a new outlet or even a new delivery service and for this, you might need a larger sum say 100K dollars or more. So with the easy financing options and the quick application process, you would be able to get the amount that is required in no time. The processing time, as well as the terms and conditions of the advances, remain the same irrespective of the size of the funds being requested for. This makes the whole process easier to understand and requires fewer efforts as well.

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