Restaurant Financing
We made restaurant loans easy to obtain and simple to manage. Apply online now. Use your restaurant online business advance to finance restaurant equipment, pay salaries or hire a new star chef
mCashAdvance™ Restaurant Loans Summary
- What is it – Business financing for restaurant owners in the USA
- Who is it for – Restaurant owners with existing revenues
- Amount – $7,500 – $500,000
- Duration – Payback in 3-12 months
- Approval Rate – High, based on revenues and amount requested
- How to Apply – Click on check eligibility below
- Requirements – Most recent bank statements. (3 months)
- Good to Know – We already funded over 23,000 restaurants
Get approved for up to $500,000 for your restaurant.
Restaurant owners can easily qualify for a Merchant Advance Online through mCashAdvance™. The only thing you will need to do is provide us with your current revenue and an explanation of what you need the money for. Owners of restaurants may use the funds for any purpose that will benefit their business.
The high acceptance rate for restaurant owners
Yes, we know: Restaurant owners in the United States have been through a lot in the past 24 months. Our restaurant financing has helped thousands of restaurateurs thrive during this difficult period. Our specialized funding experts are trained to help restaurateurs obtain financing. All types of restaurants can get restaurant financing through mCashAdvance™ without overwhelming paperwork.
Restaurants actually have the highest acceptance rate for financing out of over 90 industries we work with. So if your restaurant requires fresh capital to thrive, the chances are high that you’ll be able to meet your needs through mCashAdvance™. You can get started right away.
How restaurants owners in the USA use our Online Business Advance
Thousands of restaurants across the nation thrive with mCashAdvance.com restaurant financing. We put together the table below to help restaurant owners understand how their peers use our funding. The Popularity Score ranges from 0-10, with 10 being the most popular reason for financing among restaurant owners. This score is based on industry trends, expert opinions, and statistical data.
| Reason | Description | Popularity | Explanation |
|---|---|---|---|
| Renovations | Upgrades to Restaurant | 8/10 | Renovations are a popular reason for financing because restaurant owners often need to make improvements to their establishment to keep up with industry trends or to comply with regulations. These upgrades can include new equipment, furniture, flooring, lighting, or plumbing. |
| Working Capital | Day-to-Day Operations | 9/10 | Working capital is necessary to fund the day-to-day operations of a restaurant. This includes paying staff, buying inventory, and covering other ongoing expenses such as rent and utilities. It is a popular reason for financing because it is an ongoing need for most restaurants. |
| Equipment Purchases | New Equipment | 7/10 | Equipment purchases are a common reason for financing because restaurants require specialized equipment such as ovens, refrigerators, and stoves. Financing can help owners purchase or upgrade this equipment, which can improve efficiency, reduce costs, and enhance the overall quality of the restaurant’s offerings. |
| Expansion | Opening a New Location | 6/10 | Expansion is a less common reason for financing because it requires a larger investment and involves more risk. However, some restaurant owners choose to expand by opening new locations or adding additional services such as catering or delivery. Financing can help cover the costs associated with expansion, including new construction, marketing, and hiring staff. |
| Debt Consolidation | Paying off Existing Debt | 4/10 | Debt consolidation is a less common reason for financing in the restaurant industry but can be useful for owners who have accumulated debt from other sources such as credit cards or personal loans. Financing can help consolidate these debts into one manageable payment with a lower interest rate. |
Restaurant financing with mCashAdvance
mCashAdvance™ has a lot of experience working with restaurants and we know they are a type of enterprise that is sensitive to cash flow. Often restaurant owners need to deal with cash-flow gaps that are just part of the nature of the business. One example is the gap between the payment for ingredients and the time when the restaurant gets the money for selling the finished product to a consumer.
The average profitability in the restaurant business is between 5% to 10%. mCashAdvance™ mainly offers loans for restaurants but we can also help restaurant owners get approved for free payment processing, helping them to eliminate the common 4% credit card transaction fees. This combination of capital injection through a restaurant loan and instant savings through no-transaction-fee credit card processing has already helped thousands of restaurants across America to stay in business.
Restaurant Financing FAQ’s
The average restaurant can borrow upto $850,000 dollars. Of course, the actual amount will depend on a few things. Lenders like mCashAdvance™ will look at how long you’ve been in business, your credit score, and other factors.
There isn’t really a way to state general figures here. Restaurants are all very different. Depending on the restaurant’s financial health and credit history, different terms will be offered. There are some lenders who offer loans for up to five years, but the typical term is between six and 18 months. Rates can vary significantly between lenders even for the same business and may range from 5%-50%. The terms and rates you receive from mCashAdvance™ will depend on the type of funding you request and the specifics of your business.
Obviously not. Opening a restaurant is an expensive proposition that takes capital. However, you may be wondering if it is possible to open a restaurant without investing any of your own funds. While this is possible, securing funding for a new business is more difficult than a restaurant already earning revenue. For restaurants that have been operating for at least six months, mCashAdvance™ can provide startup funding.
It isn’t difficult, as long as your restaurant meets certain criteria. Lenders like mCashAdvance™ will want to see that your business has been operating for at least 2 months, is bringing it at least $5,000 a month in revenue, and has a good credit score. What might be more difficult, depending on your circumstances, is finding a loan at the terms you want. The stronger your business, however, the more likely you’ll find financing at reasonable terms.
It’s also important to know how you intend to use the funds, because that will affect the terms and your chances of getting approved. Working capital loans are riskier for lenders like mCashAdvance™. That’s because working loans aren’t backed by anything.
In general, you won’t need collateral to secure a loan for your restaurant, but this will depend on your lender. The equipment automatically acts as collateral for a restaurant loan if you take out restaurant financing. Your lender can repossess the equipment if you default on your payments. mCashAdvance™ has several options for loans that do not require collateral.
You can use a loan from mCashAdvance™ for any restaurant-related expenses, from paying rent to hiring extra staff. Here are the top 3 ways that owners like you use restaurant business loans:
Opening a new location:
Location is an important factor in the success of a restaurant, particularly if you rely on walk-ins as opposed to reservations.
Buying New Technology:
Many restaurant owners use the funding from mCashAdvance™ to buy technology to streamline the business.
Financing Renovations:
A common use of the funds is to renovate a restaurant so it has a nicer ambiance which should attract more customers.
These are just 3 possibilities of how you can use your restaurant business financing from mCashAdvance™ to make your business stand out.
How to Qualify for a Restaurant Business Loan
Lenders have different qualification criteria, but here are some basic guidelines for restaurants:
Most lenders, including mCashAdvance™, require these things before they will approve your restaurant business loan application. If you apply for quick restaurant funding with a higher credit score, higher monthly revenue, and longer time in business, you’ll boost your chances of acceptance. Furthermore, you may be able to secure better loan terms, so it’s always wise to try and improve your credit score.
Does Your Business Need Funding Today?
There’s no fee or obligation, and it won’t impact your credit.
$5,000 – $1,000,000
Talk to a rep at (855) 433-8641
Mon – Fri | 9:00am – 8:00pm